End of Chapter Review
MyManagementLab
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Summary
Learning Objective 1: Incentive pay or variable pay is defined as compensation, other than base wages or salaries, which fluctuates according to employees’ attainment of some standard, such as a preestablished formula, individual or group goals, or company earnings.
Learning Objective 2: In traditional pay plans, employees receive compensation based on a fixed hourly pay rate or annual salary. Annual raises are added to base pay according to seniority or a supervisor’s evaluation of past performance. In incentive plans, employees ...
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