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How Low Pay Rates Can Cost Your Business in the Long Run

the applied companies cost of low pay rates

How do the rates of pay you offer employees stack up with those paid by competing businesses? If you aren’t aware of what the going pay rates are, and the pay is low, it can hurt your business.

In addition, many businesses, especially small and midsize ones, may decide to offer somewhat low pay rates, feeling they want to achieve greater cash flow and profits before raising salaries. That’s not a good idea in the long run, either.

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