You are the manager of a growing business and need to hire additional employees.

Question

You are the manager of a growing business and need to hire additional employees. Which of the following should you consider in determining what wage to offer to new employees?

A. The dollar value each employee will add to revenue.

B. The reputation and references of each worker in order to minimize the potential for sub-standard performance.

C. The "efficiency wage" necessary to reduce turnover.

D. All of the above are important considerations in deciding what wage to offer new employees

A. The dollar value each employee will add to revenue.

B. The reputation and references of each worker in order to minimize the potential for sub-standard performance.

C. The "efficiency wage" necessary to reduce turnover.

D. All of the above are important considerations in deciding what wage to offer new employees

Explanation / Answer

Answer is D. All of the above are important considerations in deciding what wage to offer new employees.

Explanation:

While deciding on the wages for new employees all the following factors must be considered:

* Wages must be at least such which are as industry standards so as to minimize the labour turnover.

* The efficiency of the employees on work need to be considered while deciding on the wages so as to observe the potential loss in the form of substandard production.

*The other important thing is the wages should be such that it will not make a loss to the organisation after considering the wages payable and productivity expected of the workers.

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