The approach that pays employees higher wages than what competitors pay their employees in similar roles is called the
A)premium-wage approach.
B)free-rider effect.
C)lead-indicator approach.
D)lead-the-market approach.
E)first-mover advantage.

Question

Quizplus · Accepted Answer

The approach that pays employees higher wages than what competitors pay their employees in similar roles is called the "lead-the-market approach." This approach is aimed at attracting and retaining high-quality employees by offering them wages and benefits that are higher than those offered by competitors. This approach helps organizations to be seen as an employer of choice in the job market, and it can lead to higher employee productivity and lower turnover rates.

The Approach That Pays Employees Higher Wages Than What Competitors