__________ means a company's pay practices are similar to the practices of other organizations competing for the same talent.

Question

Quizplus · Accepted Answer

Externally equitable pay practices are those that are similar to the practices of other organizations competing for the same talent. This means that the company's pay rates and practices are aligned with the prevailing market rates and practices. In contrast, internal equity refers to ensuring that employees are paid fairly relative to each other within the organization. Market pricing and benchmarking are methods used to determine external equity, while the relevant salary market is the group of companies that compete for the same talent.

__________ Means a Company's Pay Practices Are Similar to the Practices