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What is the difference between a pay raise and a cola?
A pay raise is generally an increase in pay based on merit. A cost of living adjustment is an increase in pay given to maintain buying power during a time of inflation.
What is the definition of merit?
Merit is something you earn as an individual when you excel at doing a task. There are also merit raises that can be given for exemplary work habits.
How can the employees increase in productivity?
The most common one used by employers is job rotation and in some businesses there are bonuses given to the best employee.
Which is not one of the reasons that many merit pay systems fail to increase performance?
The budget is too small to fund the merit awards.
What is merit aid?
Merit aid is given due to educational achievement regardless of family income or assets. In contrast, need-based aid is given based on income or assets.
Can an employee of an accounting firm be sued in a fraud case for not detecting the fraud?
Anyone can be sued. The judge will decide if the suit has merit.
What are the employee's significant limitations?
the significant of given limitation to employee's are for their own discipline
What is figure of merit?
it is amount if current takes for unit diffection in given galvanometer
Why employee incentives not employee benefits?
Benefits are "given" while incentives must be "earned".
Salary increment notice?
A salary increment notice is a letter that notifies an employee of a pay increase. The short letter gives the employee notice of the terms of their salary increase.
What is the difference between the patronage system and the merit system?
The patronage system (aka the spoils system) is when one is given a government job by the winning party because they are a friend/ family member or supporter, while the merit system is when government jobs are given based on merit: their knowledge of politics and how they could help the government.
What is a cost of living adjustment?
Some employers provide a cost of living adjustment in addition to a merit increase every year during annual review time. It is basically a small percentage to account for inflation every year so that employees get a little bit extra increase in their pay in addition to their annual merit increase.
