One approach a firm may take is to pay employees as little as possible if unemployment is high enough that if one employee leaves, another can be hired. Another approach is to pay employees a living wage because it raises morale and productivity while decreasing turnover and the hiring costs associated with replacing workers. Which position do you take on this issue? Support your answer with specific examples.

Understanding Management (MindTap Course List)
10th Edition
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Richard L. Daft, Dorothy Marcic
Chapter9: Managing Human Resources And Diversity
Section: Chapter Questions
Problem 1DQ
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1) Listen
One approach a firm may take is to pay employees as little as possible if unemployment is high
enough that if one employee leaves, another can be hired. Another approach is to pay employees a
living wage because it raises morale and productivity while decreasing turnover and the hiring
costs associated with replacing workers. Which position do you take on this issue? Support your
answer with specific examples.
Transcribed Image Text:1) Listen One approach a firm may take is to pay employees as little as possible if unemployment is high enough that if one employee leaves, another can be hired. Another approach is to pay employees a living wage because it raises morale and productivity while decreasing turnover and the hiring costs associated with replacing workers. Which position do you take on this issue? Support your answer with specific examples.
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