Compensation Glossary

# A B C D E F G H I J K L M N O P Q R S T U V W - Z

Piece Rate

A performance payment to an employee based upon production. Payment is given based upon each piece or quantity of work that is produced by an individual employee.

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Piece Work

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Common Compensation Terms and Formulas - January 2026

Includes the latest updates: Compensable factors, defined benefit plan, job leveling, lead differential, shift differential and more.
Salary structure formulas and strategies

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