Asked by Lizbeth Garza on May 07, 2024
Verified
A good employee threatens to leave your firm because she has received a higher pay offer from a competitor.The offer is well outside your company's pay range for the job the employee is performing.What should you tell the employee?
A) You will match the other offer.
B) You will beat the other offer to be sure you won't lose her.
C) You will try to get her job put into a higher pay grade.
D) You wish her all the best in her new job with the competitor.
Pay Range
A set span of salaries offered for a specific job, based on factors like experience, skill, and location.
Pay Offer
The salary or wage proposed to a current or prospective employee, often based on the role, the individual's experience, and prevailing market conditions.
Higher Pay Grade
A classification level within a pay structure that signifies higher pay based on criteria such as job complexity, responsibilities, or performance.
- Navigate scenarios involving compensation negotiations and employee retention strategies.
Verified Answer
CY
Christine YoungMay 14, 2024
Final Answer :
D
Explanation :
Matching or beating the competitor's offer may not be sustainable if it's well outside the company's pay range. Trying to get her job put into a higher pay grade could be seen as an empty promise if not feasible. Wishing her the best acknowledges the situation realistically and maintains a positive relationship.
Learning Objectives
- Navigate scenarios involving compensation negotiations and employee retention strategies.