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The meaning of a merit increase How do you calculate a merit increase? And more Merit Increase definition: What does it mean? At its core, a merit increase, also known as a meritpay raise, is a salary boost awarded to employees based on their performance, skills and contributions to the workplace.
Types of Pay for Performance Models While pay-for-performance models can be tailored to meet the unique needs and objectives of different organizations, two of the most common types are meritpay increases and incentive pay. Incentive Pay: Incentive pay provides bonuses for meeting specific performance targets.
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