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Market with strong emphasis on performance

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Singapore's flexible wage system recommendation from the government is 70:10:20. The ratio represents basic wage, monthly variable and annual variable components respectively.

Apex-Pal International Ltd and Tung Lok Group, like many food and beverage organisations adopt employer of choice pay level policy, leads the market with strong emphasis on performance.

Examine the significant impact of two (2) organisation factors and two (2) product market factors that influence the pay level policy. Support your answer with at least two (2) of the following labour demand theories: Efficiency Wage theory, Signaling theory, Human Capital theory.

(b) Judge to what extent is lead pay policy a useful strategic choice for benchmark (key) jobs? Provide one (1) example to support the evaluation.

Kindly do NOT provide answers in point forms

Cite any reference used for your answers

REFERENCE: Gerhart, B., & Newman, J. M. (2020). Compensation (13th ed.). McGraw-Hill.

Reference no: EM133044716

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