OIG ________________________________________

question 11

Short Answer

OIG ________________________________________

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Definitions:

Labour Market

The supply and demand for labor, where employers seek to hire workers and workers seek to find jobs.

Relative Worth

The value or importance of a job in comparison to other jobs within an organization, often determined for the purpose of establishing fair compensation levels.

Absolute Worth

The intrinsic value or fundamental importance of something, irrespective of its market value or conditions.

Direct Compensation

Monetary benefits provided to employees in exchange for their labor, including wages, salaries, bonuses, and commissions.