efficiency wages
Economic term for wages set above market-clearing levels to boost worker productivity, reduce turnover, or attract higher-quality labor.
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'.