Base Pay
Cost-of-Living Adjustments
Seniority Pay
Pay-for-Performance
Person-Focused Pay
100

Employees earn pay for each hour worked

Hourly pay

100

Measure the purchasing power of a dollar

Real hourly compensation

100

Length of time an employee has been associated with the company

Seniority

100

Pay increase added to employees base pay based on their level of performance

Merit pay

100
Employee compensation for jobs employees currently perform

Job-based pay

200

Earn money for doing job regardless of how long they work

Salary

200

Face value of a dollar

Nominal hourly compensation

200

Pay program in which pay increases are based on length of service

Seniority pay

200

Compensation other than base wages or salaries that fluctuates according to employees attainment of a standard

Incentive pay

200

System that compensates employees for their job related skills and knowledge, not their job titles

Skill-based pay

300

Monetary compensation employees earn on a regular basis

Base pay

300

Represents periodic base pay increases that are founded on changes in prices as recorded by the CPI

COLA

300

Sets of collective skills, knowledge, and ability employees can apply to create economic value for their employers

Human capital

300

Plan made for specific individuals to convince them to work more

Individual incentive plans

300

Compensation for developing the flexibility, knowledge, and skills to perform a number of jobs effectively

Person focused pay

400

Team gets rewarded if they do well together :)

Group incentive plans

500

ALL employees receive a share of company profits for performing well

Company incentive plans