What Type of Compensation Program Compensates Employees for the Knowledge

question 26

Multiple Choice

What type of compensation program compensates employees for the knowledge they possess?

• A) seniority-based pay plans
• B) performance-based pay plans
• C) competency-based pay plans
• D) merit-based pay plans

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Definitions:

ROM

Read-Only Memory, a type of non-volatile storage that is used to hold permanent data and instructions for electronic devices.

RAM

Random Access Memory, a form of computer data storage that allows stored data to be accessed in any order, typically used for storing working data and machine code.

Digital Scanners

Devices that convert physical documents or images into digital format, enabling electronic storage, manipulation, and sharing.

Digital Images

Images that are encoded in a digital format, allowing them to be stored, viewed, and edited on a computer.