Broadbanding

   

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.
It is a form of Competency-based Pay.


   
   

More on compensation and benefits: Competency-based Pay, Employee Benefits, Executive Compensation, Golden Handcuff, Golden Handshake, more...



   

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