What Is Internal Equity
A Situation in Which Employees Who Do Similar Jobs Within a Company Receive Similar Salaries, and the Amount They Are Paid Is Related in a Fair Way to the Type...
a situation in which employees who do similar jobs within a company receive similar salaries, and the amount they are paid is related in a fair way to the type of job that they do: Among retail salespersons, internal equity was found to be more important to salespersons than external equity. Compare.
What is external equity?
Meaning of external equity in English the situation in which employees of a company receive pay that is fair, when it is compared to the pay of employees in other companies who do the same job: Among retail salespersons, internal equity was found to be more important to their job satisfaction than external equity.
What is the importance of internal & external equity?
Internal and external equity is important for companies to remain competitive with other organizations, attract the right employees, and retain current employees. There is no right or wrong focus; the best option is to maintain balance when focusing on internal and external motives.
Chloe Bennett explores the intersection of pop culture, streaming entertainment, digital trends, and contemporary lifestyle. Her weekly commentary reaches thousands of culture enthusiasts.
