York University has developed a merit-based pay system for its professors, in addition to other forms of pay. Which of the following terms refers to this type of merit-based pay?
A) value-added compensation
B) pay-for-performance
C) pay equity
D) indirect compensation

Question

Quizplus · Accepted Answer

Pay-for-performance refers to a merit-based pay system where compensation is tied to the employee's performance and contribution to the organization. Value-added compensation refers to compensation provided for additional services or value provided beyond regular responsibilities. Pay equity refers to ensuring equal pay for similar work regardless of gender, race or other characteristics. Indirect compensation refers to non-monetary benefits such as health insurance, retirement plans, or flexible working arrangements.

York University Has Developed a Merit-Based Pay System for Its