What do organizations try to achieve by doing salary surveys?Question 11Select one:a.Both (a) and (b)b.External equityc.Individual equityd.Internal equity
Question
What do organizations try to achieve by doing salary surveys?
Question 11
Select one:
- a. Both (a) and (b)
- b. External equity
- c. Individual equity
- d. Internal equity
Solution
Organizations conduct salary surveys to achieve both external and internal equity.
External equity refers to the fairness of an employee's pay in comparison to what employees in other organizations are paid for the same type of work. This is important to ensure that the organization is competitive in the market and can attract and retain talent.
Internal equity, on the other hand, refers to the fairness of pay within the organization. It ensures that employees are paid fairly when compared to their colleagues who hold different positions within the same organization. This is important for maintaining employee morale and motivation.
Therefore, the answer is a. Both (a) and (b).
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