Examlex
Subtract.
Market Pricing
The process of determining the value of a job in an organization based on the prevailing market rate for similar positions in the external labor market.
Job Evaluation
The systematic process for assessing the relative worth of jobs within an organization to establish a fair and equitable pay structure.
Pay for Knowledge
A compensation system where employees are paid based on the range and depth of their skills and knowledge, rather than strictly on their job position or seniority.
Performance Pay
Compensation model where employees are rewarded based on their job performance, including quality and efficiency, often used as an incentive to enhance productivity.
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