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Why might an organization choose to pay employees more than the market rate?
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b) Why might it choose to pay less?
c) What are the consequences of paying more or less than the market rate?
Please include references
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https://brainmass.com/business/business-management/pay-employees-119784
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Why might an organization choose to pay employees more than the market rate?
An organization can choose to pay employees more than the ongoing market rate or average pay in the industry in order to attract the best possible talent and high quality employees to work for the company. By ensuring that the company’s pay package is the best in the industry, one can …
