Internal factors affecting the wage mix include the area wage rates, the cost of living, and collective bargaining.
Answer the following statement true (T) or false (F)
False
The wage mix is influenced by a variety of factors. Internal factors include the organization's compensation policy, the worth of each job, the employee's relative worth, and the employer's ability to pay. External factors include conditions of the labor market, area wage rates, the cost of living, the use of collective bargaining (union negotiations), and legal requirements.
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