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Precious Persuade
on Nov 22, 2024

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What is an individual-level performance-based pay that rewards performance by increasing the employee's salary on a long-term basis called?

A) merit pay
B) piece rate
C) bonus
D) benefit

Merit Pay

Merit pay is a compensation approach where employee performance directly influences the amount of pay increase or bonus they receive, aiming to reward excellence and motivate higher performance.

Individual-Level

Pertaining to or focusing on a single person as opposed to a group or collective.

Long-Term Basis

Refers to actions, plans, or relationships intended to last or be effective over an extended period of time.

  • Explain various incentive-based salary schemes and their operational contexts.
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Brett SturgisNov 29, 2024
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