Term: Cost of Labor
Definition:The process of establishing external pay practices, where information on labor market costs (total compensation amounts) are obtained from labor market competitors and relied upon when determining target total compensation opportunity.
To find keyword content within a course, select the course link below.
Course | Page Number |
---|---|
83 - Designing a Geographic Salary Structure | 11 |
ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®