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External Equity
The concept of ensuring compensation and benefits offered are competitive with those in the external job market to attract and retain talent.
Pay Equity
The principle of compensating employees equally for jobs requiring comparable skills, effort, and responsibility, without discrimination on the basis of gender, ethnicity, or other irrelevant factors.
Internal Equity
The practice of ensuring fairness and consistency in pay structures for employees within an organization, based on their roles, experience, and performance.
Subjective Evaluations
Assessments based on personal judgments or opinions rather than on quantifiable metrics or objective criteria.
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