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  2. Performance-related pay - Wikipedia

    en.wikipedia.org/wiki/Performance-related_pay

    Performance-related pay. Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or ...

  3. Service level - Wikipedia

    en.wikipedia.org/wiki/Service_level

    In statistics, notably in queuing theory, service rate denotes the rate at which customers are being served in a system. It is the reciprocal of the service time. For example, a supermarket cash desk with an average service time of 30 seconds per customer would have an average service rate of 2 per minute. In statistics the Greek letter is used ...

  4. Little's law - Wikipedia

    en.wikipedia.org/wiki/Little's_law

    Little's law. In mathematical queueing theory, Little's law (also result, theorem, lemma, or formula [1] [2]) is a theorem by John Little which states that the long-term average number L of customers in a stationary system is equal to the long-term average effective arrival rate λ multiplied by the average time W that a customer spends in the ...

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  6. Wage curve - Wikipedia

    en.wikipedia.org/wiki/Wage_curve

    The wage curve [1] is the negative relationship between the levels of unemployment and wages that arises when these variables are expressed in local terms. According to David Blanchflower and Andrew Oswald (1994, p. 5), the wage curve summarizes the fact that "A worker who is employed in an area of high unemployment earns less than an identical individual who works in a region with low ...

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  8. Minimum wage in the United States - Wikipedia

    en.wikipedia.org/wiki/Minimum_wage_in_the_United...

    The general wage increase is TBD after 2024, TBD after 2026 for seasonal wages, and will stop at $5.13 for tipped workers in 2022, and is TBD in 2025. [270] The minimum wage will increase in 2023 by an additional 13¢ in addition to its standard increases in pay rates due to an increase in the Consumer Price Index. [272]

  9. What Is Time and a Half for Your Hourly Rate? See ... - AOL

    www.aol.com/time-half-hourly-rate-see-224302573.html

    You will get time and a half for hours worked over 40. Suppose you work 45 hours in a week, and your hourly rate is $10 per hour. You’ll get $10 per hour for the first 40 hours, or $400 total ...

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