Examlex
The operation of a merit pay plan depends on the effectiveness of the performance appraisal system.
Time Lag
The delay between a cause or action and its effect or outcome.
Competitive Benchmarking
A process where a company measures its performance or processes against those of its competitors to identify improvements or strategies.
Industry Benchmarking
A process of measuring a company's performance, operations, or processes against the best practices from other companies within the same industry.
Process Benchmarking
The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.
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