/ɪˈfɪʃənsi weɪdʒ/ – Phrase
Definition: lương khoán sản phẩm.
A more thorough explanation: Efficiency wage refers to a wage rate that is higher than the market equilibrium wage, paid by employers to increase worker productivity, reduce turnover, and attract higher quality employees. This concept suggests that paying higher wages can lead to improved performance and efficiency in the workplace.
Example: The company implemented an efficiency wage policy to incentivize employees to work more productively and efficiently.