Employers Using a Lump-Sum Merit Program Will Need to Periodically

question 43

True/False

Employers using a lump-sum merit program will need to periodically increase base salaries in order for employees to keep pace with the cost of living or general market wages.

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Definitions:

Prioritize

To arrange or deal with tasks, activities, or goals according to their importance or urgency.

"80/20" Rule

The Pareto Principle, which posits that roughly 80% of effects come from 20% of causes, applied in various contexts such as business and time management.

Guided Imagery

A technique used in psychology and meditation where an individual is guided through a series of visualizations to promote relaxation, change behaviors, or improve performance.

Progressive Muscle Relaxation

A relaxation technique that involves tensing and then slowly relaxing various muscle groups throughout the body to reduce stress and anxiety.