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Highway engineers have proposed improving a dangerous stretch of highway at a cost of $2 million.They expect that it will reduce the risk of someone dying in an accident over the life of the highway from 22.1 percent to 5.7 percent.The project would be worth doing as long as a human life is worth at least
Skill-based Pay Plans
Compensation systems that pay employees based on the range, depth, or complexity of their skills and knowledge, rather than their job title or position.
Job Evaluation
The process of analyzing and assessing various jobs systematically to ascertain their relative worth within an organization.
Job Status-based Rewards
Compensation or benefits given to employees based on their position or rank within an organization.
Bureaucratic Hierarchy
An organizational structure with clear levels of authority and a fixed set of rules and procedures to control operations and decision-making.
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