Employee pay range

This is my class question that needs to be answer with at least 125 words. I would like for you to use your own words, but if not please cite-in-text with reference. No Plagiarism

When an employee reaches the top of their pay range, we do not give any more raises. We do this so we keep with our compensation strategy of paying market rate. We also don’t want to price them out of the market. Instead, if they receive a good review, they can get a bonus in lieu of that increase.

What do you think of this strategy? Why?

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