Examlex
What is benchmarking and why is it used by companies?
Pay-for-Performance
A compensation strategy where employees' pay is based on their performance levels and accomplishments.
Financial Incentives
Monetary or fiscal rewards given to employees or teams to motivate performance and achieve desired outcomes.
Pay-for-Performance Plans
Compensation strategies where employees' pay is based on their performance or achievements.
Performance
The execution and completion of tasks and the accomplishment of goals in a given timeframe, often evaluated against a set of standards.
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