Merit pay plans are also known as piece-rate systems.

Name: Merit pay plans are also known as piece-rate systems.
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

Merit pay plans are a type of compensation system where an employee's pay is based on their performance, while piece-rate systems are a type of compensation system where an employee's pay is based on the number of units they produce or services they provide. These are two different types of compensation plans.

Merit Pay Plans Are Also Known as Piece-Rate Systems