Skill-Based and Competency-Based Pay Structure
Not what you're looking for?
What differences and similarities exist between skill-based pay structures and competency-based pay structure?
Purchase this Solution
Solution Summary
This solution discusses the differences and similarities that exist between skill-based and competency-based pay structures.
Solution Preview
Skill-based pay structures reward individual members of a team for possessing, acquiring, and applying skills they have learned and putting them towards accomplishing goals for the organization. This type of pay structure fosters a learning environment where individuals strive to learn new skills in order to receive an increase to their base salaries. A skill-based pay structure is very beneficial when a team is required to know many different functions. Within this pay structure, the organization determines new skills that must be developed in order to help the organization run more effectively. Flexibility is increased within the workforce because members of a team broaden their ...
Education
- PhD, Capella University
- MBA, Grantham University
- BSc, Grantham University
Recent Feedback
- "Thank you"
- "Do you have any references?"
- "thank you "
- "Thank you"
- "Thank you"
Purchase this Solution
Free BrainMass Quizzes
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.