Examlex
Key characteristics of the Anglo-Saxon model market system consists of private ownership and:
Pay Equity Theory
A theory that emphasizes fairness in compensation for work, focusing on ensuring that pay is equitable for jobs requiring comparable levels of skill and responsibility.
Nonfinancial Compensation
Benefits or incentives provided to employees that do not involve direct payment, such as health insurance, retirement plans, or company car.
Employee Recognition Programs
Schemes designed to acknowledge and reward employees for their performance and contributions to the organization.
Health Insurance
A form of insurance coverage that pays for medical and surgical expenses incurred by the insured, often offered by employers as part of benefits packages.
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