Labor market wage surveys are used to ensure that a firm's wage structure is externally equitable.

Question

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Labor market wage surveys provide information on the wages paid by other firms in the same industry and location. Comparing a firm's wage structure with the external market helps to ensure that the wages offered by the firm are competitive and fair relative to the industry standards. This makes the wage structure of the firm externally equitable.

Labor Market Wage Surveys Are Used to Ensure That a Firm's