Examlex
Every psychology student who has studied "Maslow's Hierarchy of Need" can identify his concept that needs are hierarchical-people determine their need from the bottom up-and the lower level need must be met before:
Job-Based Pay
A compensation strategy where employee pay is determined by the specific job roles and responsibilities rather than the individual's performance or skill level.
Capabilities
The qualities, skills, and capacities that enable individuals or organizations to effectively perform or achieve tasks and objectives.
Geographic-Based Pay
A compensation strategy that adjusts an employee's pay based on the cost of living and market wage rates in the geographic location where they work.
Market Pricing
The process of determining the external value of jobs within an organization by comparing the organization's jobs to similar jobs in the external labor market.
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