[Answer] The amount an organization must pay to compete against other companies that hire similar employees is referred to as _____.

Answer: labor market competition

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The amount an organization must pay to compete against other companies that hire similar employees is referred to as _____. The amount an organization must pay to compete against other companies that hire similar employees is referred to as range spread. job-based wage rate . product market competition . efficiency wage rate . labor market competition . the amount the organization must pay to compete against other companies that hire similar employees. if an organization is not competitive in the labor market it will fail to attract and retain employees of sufficient numbers and quality. places a lower bound on pay levels Essentially labor market competition is the amount an organization must pay to compete against other companies that hire similar employees . These labor market competitors typically include not only companies that have similar products but also those in different product markets that hire similar types of employees . Labor market competition : Labor market competition is the amount an organization must pay to compete ...

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