A. DESCRIBE THIS FOUR (4) FORMS OF PAY

. Base

. Merit/Cost of living

. Long term incentives

. Short term incentives

B. EXPLAIN THIS POLICY ISSUE IN THE PAY MODEL

. Ethics

C. DESCRIBE THIS THREE (3) TYPES OF PAY STRUCTURE

. Job-based

. Person based

. Performance-based

D. BASED IN THE EFFICIENCY WAGE THEORY, EXPLAIN THESE FIVE (5) CONDITIONS IN WHICH A COMPANY CAN INCREASE EFFICIENCY WITH HIGH WAGES

. The higher the wage, the less likely it is that an employee would be able to find another job that pays as well.

. Reduce the need to supervise employees

. Lower turnover

. Increase worker effort.

. Attract higher-quality applicants

E. STATE THREE (3) FACTORS THAT SHAPE PAY STRUCTURE.