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Gain-sharing Plan
A compensation strategy where employees receive bonuses for performance improvements or cost savings they contribute to.
Piece Rate
A compensation system where workers are paid a fixed sum for each unit of production completed, rather than by the hour or salary.
Individual
Referring to a single human being as distinct from a group, class, or family.
Team-based Pay
A compensation strategy where pay is based on the performance of the team as a whole, rather than individual performance.
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