What effect will paying higher wages have on Costa Vida in the short term? What effect will it have in the long term? Explain.
For many businesses in today’s belt-tightening economy, decisions on pay need to be strategic to ensurethat employees are treated fairly and to ensure that businesses remain viable. This requires knowing what your competitors pay their employees and knowing your own salary budget. But knowing what your competitors are paying can be both valuable and painful. […]