2 Contextual Influences on Compensation Practice

Learning Objectives

When you finish studying this chapter, you should be able to:

  1. 1 Discuss the reasons for interindustry wage differentials.

  2. 2 Explain the factors that contribute to pay differentials based on occupational characteristics.

  3. 3 Summarize the reasons for the occurrence of geographic pay differentials.

  4. 4 Discuss the role of labor unions in setting compensation.

  5. 5 Identify and discuss key employment laws pertinent to compensation practice.

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