Instructions: Identify the Following Term(s)

question 122

Short Answer

Instructions: Identify the following term(s).
keiretsu

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Definitions:

Job-Based Pay

A compensation strategy that determines an employee's salary based primarily on the specific job or position they hold.

Competency-Based Pay

Pay based on an employee’s skill level, variety of skills possessed, or increased job knowledge

Hay Profile Method

A job evaluation technique using three factors—knowledge, mental activity, and accountability—to evaluate executive and managerial positions.

Market Pricing

The practice of setting salaries based on the prevailing wage rates for similar positions in the external labor market.