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Florida is reported to be a low wage area (https://www.wusf.org/economy-business/2023-09-28/despite-minimum-wage-increase-and-growing-florida-economy-many-workers-are-strugglingLinks to an external site.). What steps should you take to develop a market-competitive pay plan?

Florida is reported to be a "low wage area" (https://www.wusf.org/economy-business/2023-09-28/despite-minimum-wage-increase-and-growing-florida-economy-many-workers-are-strugglingLinks to an external site.). What steps should you take to develop a market-competitive pay plan? Explain your process using information from Chapter 7

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