Common use of Market Rates Clause in Contracts

Market Rates. In response to market conditions or other factors such as "hot skills", the Employer may establish a job rate that is different from that established through the job evaluation plan. Such rates must be substantiated by evidence of high staff turnover, skill shortages and/or employment market research. Market rates will be reviewed annually to ensure they continue to be justified.

Market Rates. In response to market conditions or other factors such as "hot skills", the Employer may establish a job rate that is different from that established through the job evaluation plan. Such rates must be substantiated by evidence difficulty recruiting employees, difficulty retaining staff or a skill shortage of high staff turnover, a particular skill shortages set in the local market and/or employment market research. Market rates will be reviewed annually to ensure they continue to be justified.