CHRP Knowledge Exam · Question
Which compensation strategy aims to pay employees above the market rate to attract top talent and reduce turnover?
A lead-the-market strategy positions an organization's pay above average market rates. This helps in attracting and retaining highly skilled employees.
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Question: Which compensation strategy aims to pay employees above the market rate to attract top talent and reduce turnover?
Answer options:
- Lag-the-market strategy ✅ Lead-the-market strategy
- Match-the-market strategy
- Skill-based pay strategy
Correct answer: Lead-the-market strategy
Explanation: A lead-the-market strategy positions an organization's pay above average market rates. This helps in attracting and retaining highly skilled employees.
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- Employment Standards in most provinces require overtime after:
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- Which term describes the practice of contracting out a business function to a third-party provider, often abro
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