Which term refers to a one-time annual financial award based on productivity?
A) bonus
B) merit award
C) skill-based pay
D) competency-based pay

Question

Quizplus · Accepted Answer

A)Companies are increasingly placing a higher percentage of their compensation budget in merit bonuses,which is a one-time annual financial award,based on productivity that is not added to base pay.This approach better enables companies to control the cost of direct compensation by not adding pay increases to base pay on a permanent basis,which is the case for seniority and merit pay.

Which Term Refers to a One-Time Annual Financial Award Based