The argument points out that if an employer reacts to poor business conditions by reducing pay for all workers, then the best workers, with the best employment alternatives at other firms, are the most likely to leave and the least-attractive workers, with fewer employment alternatives, are more likely to stay.

Adverse selection of the wage cuts

Explanation:

Adverse selection of the wage cuts argument points that if the employer reacts to the poor business circumstances or conditions by reducing the wages for all the workers, then best workers, those with best employment alternatives at the other firms, are most likely to leave the organization. On the other hand, the least attractive workers, with the fewer employment alternatives at the other firms, are more likely to stay in the organization.

Thus, firms and organizations more likely to choose that which worker must be departed by means of firings and layoffs rather than cutting or trimming the wages across board.

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