Resources
Glossary
Mandatory Benefits
are legally required government sponsored employee benefits, such as pensions and employment insurance, to which employers are obliged to contribute on behalf of their employees.
Market Rate
is the rate of pay established for a “benchmark job” outside of the organization. It is determined though the collection of pay data gleaned from surveys of many organizations.
Merit Pay
is a monetary reward given in recognition of outstanding performance which increases base pay. It may be paid in a lump-sum or added incrementally to base pay.
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Job Family
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