|
|
|
Definition: Competency-based Pay is a pay system that compensates employees on their skill set, their knowledge, and their experience. It's an alternative to traditional pay approaches that are based on job title and position. The idea behind competency-based pay is to encourage employees to improve themselves (skills, knowledge and experience) and thus contribute more to the company. |
|
Learn more about Competency-based Pay More on compensation and benefits: Broadbanding, Employee Benefits, Executive Compensation, Golden Handcuff, Golden Handshake, more... You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject.
|
© 2023 MBA Brief - Last updated: 8-6-2023 - Privacy | Terms
