YellowCraft Boat Construction Company has an entitlement approach to compensation that is consistent with its paternalistic approach to managing employees. As the average level of employee seniority rises, YellowCraft's pay scales also rise.

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The statement is describing an entitlement approach to compensation, where pay scales increase with employee seniority. This is consistent with a paternalistic approach, where the company takes care of its employees over the long term.

YellowCraft Boat Construction Company Has an Entitlement Approach to Compensation