A __________ plan awards regular pay increases in proportion to performance.
A) stock option
B) bonus plan
C) merit pay
D) profit sharing

Question

Quizplus · Accepted Answer

A merit pay plan is designed to reward employees based on their individual job performance. These plans typically involve regular pay increases and promotions based on the employee's performance evaluation. The purpose of a merit pay plan is to motivate employees to work harder and achieve better results, which benefits the company as a whole.

A __________ Plan Awards Regular Pay Increases in Proportion to Performance