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Definition: Broadbanding is a pay strategy that consolidates the many distinct pay grades of traditional pay structures into only few “broad bands”. Because there are only few pay grades in the pay structure, a person’s payment cannot only be increased by job promotion (as is the case in traditional pay structures) but also by improved skills and competencies. |
More on compensation and benefits: Competency-based Pay, Efficiency Wage, Employee Benefits, Equity-based Compensation, Executive Compensation, more on compensation and benefits... MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic.
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