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Which of the following is an external factor that can influence the rates at which employees are paid quizlet?

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What are 5 external factors which influence wage rates?

Here, we discuss the factors that influence compensation rates the most:.
Years of experience and education level. It probably goes without saying, but the more experience and education a candidate has, the higher their expected compensation. ... .
Industry. ... .
Location. ... .
In-demand skill sets. ... .
Supply and demand..

What are external factors affecting pay structure?

The major external factors that affect pay structure include area pay rates, labor market conditions, collective bargaining, government legislation, and cost of living. Area pay rates refer to the pay given to worker in similar positions, in other organizations.

Which of the following is a factor which influences the wage rates?

Demand and supply is one of the important factors which influence the wage rates. If the number of workers required is more than availability of workers, then employees will be paid higher rate of work and vice versa.

What are some of the factors that can influence wage rates in a firm?

Reasons wages vary.
Credentials. ... .
Experience and skill. ... .
Industry or employer. ... .
Job tasks. ... .
Geographic location. ... .
Success and performance..

external factor influence rates employees paid quizlet

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