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The primary advantage of replacement value is that you can be quite confident of its accuracy.
Skill-Based Pay
A compensation system where employees' wages are determined by their skills, knowledge, and abilities, rather than their job title or position.
Performance-Based Pay
A compensation strategy where employees are paid based on their performance or achievements.
Intrinsic Motivation
The internal desire to perform a task for its own sake, deriving personal satisfaction from the activity itself without external incentives.
Need for Self-Determination
Refers to the fundamental drive of individuals to control their own actions and decisions, seeking autonomy and self-regulation in their behavior.
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