Guaranteed wages and salary increases based on the amount of time the employee has spent with the organization are called ______.

A) skill-based pay
B) job content-based pay
C) performance-based pay
D) seniority-based pay

Seniority-Based Pay

A compensation system where an employee's wage or salary is determined by their length of service in the company.

Guaranteed Wages

A compensation strategy where employees are assured of a minimum amount of income, regardless of work hours or output.

Skill-Based Pay

A compensation system that rewards employees for their range of skills or depth of knowledge, rather than their job title.