Which of the following terms refers to any salary increase the firm awards to an individual employee based on his or her individual performance?
A) competency-based pay
B) variable pay
C) merit pay
D) base pay
E) piecework

Question

Quizplus · Accepted Answer

Merit pay refers to any salary increase the firm awards to an individual employee based on his or her individual performance. Competency-based pay is based on an employee's skills and knowledge, variable pay includes bonuses and incentives, base pay is an employee's standard wage or salary, and piecework is when an employee is paid per unit of output.

Which of the Following Terms Refers to Any Salary Increase