The Two Most Common Compensation Methods for Teams Are

question 147

Multiple Choice

The two most common compensation methods for teams are:

• A)skills-based pay and gain-sharing.
• B)salaries and capital gains.
• C)cash bonuses and cashless bonuses.
• D)piecework pay and commissions.

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Definitions:

Skill Improvement

The process of enhancing or acquiring new abilities and competencies, often through practice, training, or education.

Formal Orientation

An organized and official introduction to a company or organization for new members or employees, outlining policies, procedures, and culture.

Socialization

The process by which people adapt to an organization through learning and accepting the values, norms, and beliefs held by others in the organization.

Needs Assessment

A diagnosis that presents problems and future challenges that can be met through training or development.