Bill has recently completed his Associates degree in Accounting, thereby moving him from an A/R Representative I to a level II position. Due to his degree Bill received a 6% wage adjustment, as do all employees who obtain their degree. Bill's organization follows:

Question

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Bill's organization follows both skill-based pay (as he received a wage adjustment based on his Associates degree) and knowledge-based pay (as the wage adjustment was based on his increased knowledge and skills).

Bill Has Recently Completed His Associates Degree in Accounting, Thereby