PAY INCREASE Meaning and
Definition
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A pay increase refers to an upward adjustment in the remuneration or salary received by an employee or worker from their employer. It is a financial benefit where the amount of compensation granted to the individual is elevated, either through an incremental raise or a more substantial boost, as compared to their previous earnings. Generally, a pay increase is instituted to recognize and reward an employee's contributions, loyalty, and competence within an organization or company.
Pay increases can be implemented in various ways, such as an annual raise, a promotion with a corresponding salary bump, or a merit-based increment tied to performance evaluations. Companies may choose to offer pay increases to ensure their employees' compensation remains competitive and commensurate with market standards. Furthermore, pay increases can act as an incentive to motivate workers to retain their positions and to enhance job satisfaction, morale, and employee loyalty.
The amount of a pay increase can vary depending on multiple factors, including the financial health of the organization, industry norms, and the employee's position or level of responsibility. Pay increases may occur on an individual basis or within a broader context, such as during collective bargaining negotiations between an employer and a labor union. Overall, a pay increase represents an adjustment to an employee's regular income, aiming to acknowledge their value, performance, and overall contribution to the organization they work for.
Common Misspellings for PAY INCREASE
- oay increase
- lay increase
- 0ay increase
- pzy increase
- psy increase
- pwy increase
- pqy increase
- pat increase
- pag increase
- pah increase
- pau increase
- pa7 increase
- pa6 increase
- pay uncrease
- pay jncrease
- pay kncrease
- pay oncrease
- pay 9ncrease
- pay 8ncrease
- pay ibcrease
Etymology of PAY INCREASE
The word "pay increase" is a compound noun with its etymology derived from two separate words.
1. "Pay": The Middle English word "paien" from Old French "paier" means "to pay, compensate, satisfy a debt". It can be traced back to the Latin word "pacare" meaning "to appease, make peaceful". This Latin root is also related to the Old High German word "pfahen" meaning "to pay". Over time, "pay" has come to mean the amount of money given to someone for their work or services.
2. "Increase": The word "increase" comes from the Latin word "increasare", derived from "in-" meaning "in" or "to" and "creasare" meaning "to create, bring forth".
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