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And so, the question of how to reward talented employees is raised more often than you think. Enter the merit increase , a performance-driven pay rise that promises to bridge the gap between effort and employee recognition. But what is a merit increase? And more Merit Increase definition: What does it mean?
As such, employers must do everything they can to attract and retain high-performing employees, and issuing regular merit increases is one of the best ways to do so. A merit increase or meritraise refers to a pay increase based on an employee’s performance. What is a Merit Increase? Why is that?
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