Examlex
A GPO is a form of centralized purchasing that consolidates ordering from all departments within the organization into a single purchasing department.
Above-Market Wages
Above-market wages refer to compensation rates higher than the average or standard for a particular job or industry.
Pay Scale
A structure that determines the compensation levels for different positions within an organization, often reflecting experience, education, and responsibility.
Employee Compensation Strategy
A plan or approach used by employers to determine the mix of wages, salaries, and benefits the employees will receive.
Compensation Survey Firms
Companies that specialize in collecting and analyzing data on compensation rates to provide benchmarking and market rate information.
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