What is MERIT INCREASE?

Employee’s higher wage rate based on efficiency and performance, examples of agreed-to criteria. Also known as merit bonus.

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Related Legal Terms
MERIT PAY, FIGURE OF MERIT, MERIT GOODS, MERIT RATING, RATE OF NATURAL INCREASE/DECREASE, RETROACTIVE INTEREST RATE INCREASE, AUTOMATIC INCREASE IN BENEFIT PROVISION, MERIT SYSTEM, INCREASE, NET INCREASE


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