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Explain the difference between application software and system software.
Retention Bonus
A financial reward offered to an employee as an incentive to remain with the company, underlining the organization's appreciation for their contribution.
Piecework Rate System
A compensation system where employees are paid based on the quantity of units they produce or complete, rather than receiving an hourly wage.
Merit Pay System
A compensation strategy that rewards employees based on their performance, as opposed to factors such as seniority or hours worked.
ESOPs
Employee Stock Ownership Plans, a program that provides a company's workforce with an ownership interest in the company.
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