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Explain the Types of Individuals Based on Preferences for Equity

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Essay

Explain the types of individuals based on preferences for equity.


Definitions:

Monetary Based

Relating to, involving, or existing in the form of money.

Merit Pay

A compensation strategy that involves giving pay increases or bonuses to employees based on their performance achievements.

Employee Benefits

Various types of non-wage compensation provided to employees in addition to their normal salaries or wages.

Flexible Benefit Programs

Employee benefit plans that allow individuals to choose the benefits that best meet their personal needs or circumstances.

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