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A leftward shift of the demand curve results in:
Pay for Knowledge Systems
Compensation strategies that reward employees for expanding their skills or obtaining further education relevant to their job.
Job-Based Pay
A compensation strategy where employee pay is determined by the specific job roles and responsibilities rather than the individual's performance or skill level.
Capabilities
The qualities, skills, and capacities that enable individuals or organizations to effectively perform or achieve tasks and objectives.
Geographic-Based Pay
A compensation strategy that adjusts an employee's pay based on the cost of living and market wage rates in the geographic location where they work.
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