What term refers to the establishment of salary grades and rates to ensure wage equity?

The correct term that refers to the establishment of salary grades and rates to ensure wage equity is the compensation framework. This term encompasses the organization and categorization of pay to maintain fairness and consistency across different roles and levels within an organization.

A compensation framework outlines how salaries are defined and maintained, taking into account factors such as job responsibilities, market rates, and organizational policies. This ensures that employees in similar positions or with similar qualifications are compensated equitably, thus promoting equity within the workplace.

While "wage class," "salary structure," and "pay scale" might seem relevant, they do not fully encompass the broader scope of what a compensation framework includes. Each of those terms can refer to specific aspects of pay categorization or methodologies but does not represent the comprehensive approach taken by a compensation framework to ensure overall wage equity.