There are several new approaches to paying employees which include:
A)skills or knowledge based pay and employee stock ownership plans
B)variable pay and piecework
C)profit sharing and skills or knowledge based pay
D)variable pay and skills or knowledge based pay
E)piecework and profit sharing

Question

Quizplus · Accepted Answer

Variable pay and skills or knowledge based pay are the most effective approaches towards paying employees. Variable pay considers the quality and quantity of work, which motivates employees to work more efficiently. On the other hand, skills or knowledge based pay motivates employees to develop new skills and become more knowledgeable to receive higher pay. These approaches not only increase employee satisfaction but also improve the overall performance of the organization.

There Are Several New Approaches to Paying Employees Which Include