Why some employers offer higher wages than others

In a competitive market, the quality and productivity of a company depends on the quality of employees that run it. To be able to attract the best professionals or workers on a particular field, employers need to offer the highest wage in order to win the attention and loyalty of individuals seeking employment. If a company wants to maintain its dominance in the market, they may opt to pay more than double the wage of what their competitors usually give their employees at the same field of expertise. This tactic also ensures the company's high retention rate of its best employees.

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