Asked by Anika Desai on May 06, 2024
Verified
Heightened Homes is a real estate firm based in Texas. The company ensures that employees' pay is dependent on what they are capable of doing. The company also supports efforts to empower its employees by encouraging them to be independent and to make decisions in various areas. This, in turn, ensures job enrichment. Based on this information, identify the pay structure being utilized by Heightened Homes.
A) straight piecework plan
B) skill-based pay systems
C) merit pay system
D) differential piece rates
E) standard hour plan
Skill-based Pay Systems
Compensation strategies where employees are paid based on the number, kind, or level of skills they possess, rather than their job title or position.
Job Enrichment
Empowering workers by adding more decision-making authority to jobs.
Piecework Plan
A compensation system where employees are paid a fixed rate for each unit of production or action they complete, encouraging productivity.
- Comprehend the theory and implementation of competency-based remuneration strategies.
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Learning Objectives
- Comprehend the theory and implementation of competency-based remuneration strategies.
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