Examlex
A) Describe the difference between an aptitude and an achievement test.
B) Provide an example of each kind of test.
C) When would you be most likely to use each type of test?
Base Wages
The initial or fundamental salary paid to an employee before any bonuses, benefits, or overtime are accounted for.
Lump-sum Merit Pay
A one-time payment given to an employee as a reward for performance, rather than a continuous salary increase.
Base Salary Levels
The foundational rate of pay before bonuses, benefits, or allowances are added, usually determined by role complexity and market rates.
Profit-sharing Plans
Compensation schemes where employees receive a share of the company's profits, typically in the form of bonuses or equity.
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