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Traditional Pay vs. Incentive Pay

Discuss the differences between traditional pay systems and incentive pay systems. Which system would you prefer to be used at your company? Explain your choice.

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Traditional pay systems are used to compensate an employee based on their hourly rate or their annual salary. Pay increases are determined by factors that include their seniority and performance. The traditional pay model assigns a grade level to positions based on education and experience that is required to perform ...

Solution Summary

This solution provides a discussion about traditional pay systems and incentive pay systems.

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