According to some accounts, hiring and compensation practices have recently undergone marked exchanges aimed at increasing the flexibility of business cost structures, linking worker’s pay more closely to company performance and enhancing incentives for productive behavior. In particular, an increasing number of firms are reported to be substituting lump-sum payments for regular pay increases, allowing for greater variability of remuneration across individuals or groups and making greater use of profit sharing or stock options. Many of these practices are outside the scope of the measures of economy wide compensation growth most typically watched by economists and policymakers.
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