_______ is a strategy used in salary structuring to reward long-term employee loyalty and tenure.
- Incentive compensation
- Longevity pay
- Merit-based pay
- Performance bonuses
Longevity pay is a strategy in salary structuring designed to reward employees for their long-term loyalty and tenure with the company. It acknowledges and incentivizes commitment and dedication over an extended period.
Loading...
Related Quiz
- What is a fundamental aspect of labor law compliance regarding employee wages?
- Employee engagement is closely linked to their sense of _______ in the organization.
- What role does a competency framework play in assessing candidates?
- In labor law compliance, the concept of _______ is crucial for equal pay for equal work.
- How does integrating time tracking software with payroll systems benefit an organization?