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Merit Pay Plans
Compensation strategies that reward employees based on their performance and achievements in the workplace.
Base Pay
The initial rate of compensation an employee receives, not including overtime, bonuses, or other additional compensation.
Performance Declines
A noticeable decrease in the effectiveness, productivity, or quality of work produced by an individual, team, or organization.
Labor Costs
The total amount of financial compensation, benefits, and overheads paid to employees in exchange for their labor.
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