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Performance-related pay. Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or ...
Calculation. Compa-ratio is calculated as the employee's current salary divided by the current market rate as defined by the company's competitive pay policy. Compa-ratios are position specific. Each position has a salary range that includes a minimum, a midpoint, and a maximum. These three values represent industry averages for the position.
Compensation (psychology) In psychology, compensation is a strategy whereby one covers up, consciously or unconsciously, weaknesses, frustrations, desires, or feelings of inadequacy or incompetence in one life area through the gratification or (drive towards) excellence in another area. Compensation can cover up either real or imagined ...
Clinical psychology is an integration of human science, behavioral science, theory, and clinical knowledge for the purpose of understanding, preventing, and relieving psychologically-based distress or dysfunction and to promote subjective well-being and personal development. [1] [2] Central to its practice are psychological assessment, clinical ...
Psychiatrist. psychotherapist. A psychologist is a professional who practices psychology and studies mental states, perceptual, cognitive, emotional, and social processes and behavior. Their work often involves the experimentation, observation, and interpretation of how individuals relate to each other and to their environments. [1]
Managerial psychology is a sub-discipline of industrial and organizational psychology that focuses on the effectiveness of individuals and groups in the workplace, using behavioral science. The purpose of managerial psychology is to aid managers in gaining a better managerial and personal understanding of the psychological patterns common among ...
Merit pay. Merit pay, merit increase or pay for performance, is performance-related pay, most frequently in the context of educational reform or government civil service reform (government jobs). It provides bonuses for workers who perform their jobs effectively, according to easily measurable criteria.
Personnel psychology is the area of I-O psychology that primarily deals with the recruitment, selection and evaluation of personnel, and with other job aspects such as morale, job satisfaction, and relationships between managers and workers in the workplace. [2] It is the field of study that concentrates on the selection and evaluation of ...