Competitiveness in the new york labor market

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The leader of a mid-sized organization in Miami asks HR torecommend an approach to total compensation practices for a new location in New York City.

The HR director considers:

• The value the new employees will add.

• Highly knowledgeable and talented workers will be required.

• Competitiveness in the New York labor market is tight.

• Many workers will have to be lured away from competitors.

• The organization's current pay practices in Miami have lagged the market due to employer's strong brand recognition and significant labor supplies.

• The probable labor budget in the new location.

What should the HR director recommend regarding pay practices for the new NYC location?

What impact will this have on the organization?

Reference no: EM132937807

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