You want to hire a new laboratory technician. Excellent technicians generate $1,000 in value added each week.
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You want to hire a new laboratory technician. Excellent technicians generate $1,000 in value added each week. Adequate technicians generate $500 in value added each week. Half the graduates are excellent, and half are adequate.
a. You cannot tell who is highly capable and who is adequate. You are prepared to pay each technician the value added. What salary do you offer?
b. Who will accept this offer?
c. Is there any way that excellent technicians could communicate their productivity?
d. Propose a compensation system that will attract both types of technicians and pay no technicians more than their value added.
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a Salary Offer To attract both types of technicians and pay them based on their value added you can offer an expected salary that accounts for the ave...View the full answer
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