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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.
The post-nominal letters are necessary to denote that someone is a privy councillor because in Canada holding a certain office can also allow the use of The Honourable title. Unlike what is done in the United Kingdom, the post-nominals "PC" have precedence over all Crown honours with two notable exceptions: the Victoria Cross ("VC") and the ...
Post-nominal letters are letters placed after the name of a person to indicate that the individual holds a position, office, or honour. An individual may use several different sets of post-nominal letters. Honours are listed first in descending order of precedence, followed by degrees and memberships of learned societies in ascending order.
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What fraction of pay depends on performance, and what is meant by performance, can vary widely. [1]Research on extreme high-stakes incentives [2] funded by the Federal Reserve Bank undertaken at the Massachusetts Institute of Technology with input from professors from the University of Chicago and Carnegie Mellon University repeatedly demonstrated that as long as the tasks being undertaken are ...
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The system usually has three levels of honor (listed in order of increasing merit): cum laude, magna cum laude, and summa cum laude. Generally, a college or university's regulations set out definite criteria a student must meet to obtain a given honor.