noun
efficiency wages
Economic term for wages set above market-clearing levels to boost worker productivity, reduce turnover, or attract higher-quality labor.
能率賃金理論は、企業が高い賃金を支払うことで労働者の生産性が向上することを説明する。
Efficiency wage theory explains that firms paying higher wages can improve worker productivity.
最低賃金 is the legal minimum wage, while 能率賃金 is a voluntary above-market wage strategy to enhance efficiency.
Compound of 能率 (efficiency) and 賃金 (wages). A direct translation of the English economic term 'efficiency wages'.