This Type of Pay System Is Used by Unions and Contractors

question 32

Multiple Choice

This type of pay system is used by unions and contractors to reward their carpenters for increasing their carpentry abilities.

• A) knowledge-based
• B) incentive
• C) skill-based
• D) merit-based

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Definitions:

Skill Based Pay

A compensation system where employees are paid based on the skills, knowledge, and abilities they apply in their work.

Organization's Performance

The overall effectiveness and achievement of a company's objectives, often evaluated through financial, operational, and strategic metrics.

Performance Appraisal System

A structured process for evaluating the job performance of employees and providing them with feedback.

Industry

The collective organizations and activities involved in the production, processing, and distribution of goods and services within a particular sector.