Definition: Efficiency Wage is the economic concept that - simply put - implies that employers get more if they pay more: the increased labor productivity pays for the relatively higher wages. |
More on compensation and benefits: Broadbanding, Competency-based Pay, Employee Benefits, Executive Compensation, Gender Pay Gap, more on compensation and benefits... You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject. |
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