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Exercise: Are you familiar with the word, "besotted?" Provide a definition. If the term is unfamiliar, make a guess about its meaning based on its appearance or sound, and create your own definition. Then look the word up, and find out how close you got. (We provide a thumbnail meaning as answer.)
Performance-Based Pay
A compensation strategy that ties employee pay directly to their performance, encouraging higher levels of output or quality.
Psychological Distance
The feeling of how close or far off an object or event is to an individual, psychologically, rather than in a physical manner.
Skill-Based Pay
A compensation system where pay levels are determined by an employee's skills or knowledge, not just job title or position.
Intrinsic Motivation
A form of motivation driven by an interest or enjoyment in the task itself, rather than external factors.
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