merit pay

merit pay
merit rating or merit pay
HR
a payment system in which the personal qualities of an employee are rated according to organizational requirements, and a pay increase or bonus is made against the results of this rating. Merit rating has been in use since the 1950s. Unlike new performance-related pay systems, which focus rewards on the output of an employee, merit rating examines an employee’s input to the organization—for example, their attendance, adaptability, or aptitude—as well as the quality or quantity of work produced. In merit rating programs, these factors may be weighted to reflect their relative importance and the resultant points score determines whether the employee earns a bonus or pay increase.

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  • Merit pay — is a term describing performance related pay, most frequently in the context of educational reform. It provides bonuses for workers who perform their jobs effectively, according to measurable criteria. In the United States, policy makers are… …   Wikipedia

  • merit pay — ➔ pay1 * * * merit pay UK US noun [U] HR, WORKPLACE ► PAY FOR PERFORMANCE(Cf. ↑pay for performance) …   Financial and business terms

  • merit pay — noun extra pay awarded to an employee on the basis of merit (especially to school teachers) • Hypernyms: ↑wage, ↑pay, ↑earnings, ↑remuneration, ↑salary * * * an additional sum paid to an employee, as a schoolteacher, whose work is superior and… …   Useful english dictionary

  • merit pay — an additional sum paid to an employee, as a schoolteacher, whose work is superior and whose services are valued. * * * …   Universalium

  • merit bonus — ➔ bonus * * * merit award/bonus/raise, etc. ► HR, WORKPLACE extra pay given to employees who have done their job well and made noticeable improvements in the company, department, etc.: »The average merit pay increase over the past five years has… …   Financial and business terms

  • merit award — merit award/bonus/raise, etc. ► HR, WORKPLACE extra pay given to employees who have done their job well and made noticeable improvements in the company, department, etc.: »The average merit pay increase over the past five years has been in the… …   Financial and business terms

  • merit award/bonus/raise — merit award/bonus/raise, etc. ► HR, WORKPLACE extra pay given to employees who have done their job well and made noticeable improvements in the company, department, etc.: »The average merit pay increase over the past five years has been in the… …   Financial and business terms

  • merit award/bonus/raise, etc. — merit award/bonus/raise, etc. ► HR, WORKPLACE extra pay given to employees who have done their job well and made noticeable improvements in the company, department, etc.: »The average merit pay increase over the past five years has been in the… …   Financial and business terms

  • merit bonus/raise — merit award/bonus/raise, etc. ► HR, WORKPLACE extra pay given to employees who have done their job well and made noticeable improvements in the company, department, etc.: »The average merit pay increase over the past five years has been in the… …   Financial and business terms

  • merit raise — merit award/bonus/raise, etc. ► HR, WORKPLACE extra pay given to employees who have done their job well and made noticeable improvements in the company, department, etc.: »The average merit pay increase over the past five years has been in the… …   Financial and business terms

  • pay for performance — ˌpay for perˈformance noun [uncountable] HUMAN RESOURCES pay that increases when your work improves or becomes more productive and goes down if the opposite happens; = MERIT PAY; PERFORMANCE RELATED PAY * * * pay for performance UK US noun [U] HR …   Financial and business terms

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