[ wˈe͡ɪd͡ʒ kənsˈɛʃən], [ wˈeɪdʒ kənsˈɛʃən], [ w_ˈeɪ_dʒ k_ə_n_s_ˈɛ_ʃ_ə_n]
Synonyms for Wage concession:
How to use "Wage concession" in context?
In recent decades, economists and employers have been debating the merits of wage concessions. These discussions revolve around the question of whether wage concessions lead to increased productivity and efficiency in the workplace.
Economists who believe in the efficacy of wage concessions argue that these concessions increase the chances of reaching an agreement on a wage increase. This could lead to a higher level of productivity, as individual employees are more incentivized to work hard.
On the other hand, economists who oppose wage concessions argue that such concessions have little impact on productivity.
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