Merit pay awards pay according to the relative value of employee contributions.

Question

Quizplus · Accepted Answer

Merit pay awards are designed to recognize and reward employees for their individual contributions, based on their performance and productivity. The idea is to pay employees according to the value they bring to the organization, rather than simply giving everyone the same raise or salary increase. This helps to motivate and incentivize employees to perform at their best and to continually improve their skills and abilities.

Merit Pay Awards Pay According to the Relative Value of Employee