Jim Jones received a $500 pay bonus as a result of his job performance last year; however, this extra money was not added to his base pay. This is an example of which of the following?

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The scenario describes a situation where Jim Jones received a one-time payment of extra money (in this case, $500) as a bonus for his job performance. This type of payment is known as a lump-sum merit pay, which is not added to the base pay of the individual, but is rather a one-time bonus payment. Annual merit raises are typically given as a percentage of an employee's base salary, while group incentive plans may involve the distribution of bonuses or rewards to a group of employees based on group performance. Percentage wage increases refer to a raise in base pay given as a percentage of the employee's current salary.

Jim Jones Received a $500 Pay Bonus as a Result