Morgan is working on the compensation package for bank tellers.Bank customers like to see the same faces in the bank when they come in to talk about their money.Therefore, Morgan needs to find a way to reduce turnover among the tellers.Adopting a(n) _________ organizational philosophy on compensation might be a good idea.
A)below-the-market
B)at-the-market
C)pay for longevity
D)wage compression
E)None of the above

Question

Quizplus · Accepted Answer

Pay for longevity compensates employees based on how long they have been with the company. By offering employees rewards and incentives for staying with the company, it encourages them to stay for the long-term which can help reduce turnover. This is a good strategy for banks who want to maintain a consistent customer experience.

Morgan Is Working on the Compensation Package for Bank Tellers