What is another word for efficiency wage hypothesis?
Pronunciation: [ɪfˈɪʃənsi wˈe͡ɪd͡ʒ ha͡ɪpˈɒθəsˌɪs] (IPA) 
The efficiency wage hypothesis refers to the concept that higher wages can lead to increased productivity and efficiency within a company. Synonyms for this term include the fairness wage hypothesis, which suggests that higher wages increase employee motivation and loyalty, and the incentive wage hypothesis, which proposes that higher wages act as an incentive for workers to perform better. Other related terms include the efficiency wage theory, the efficiency wage model, and the efficiency wage theory of unemployment. Overall, these concepts all point to the idea that offering higher wages can have a positive impact on both employees and employers, improving overall productivity and performance.
