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Competence Related Pay

Competence Related Pay

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Published by Siddharth

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Published by: Siddharth on Aug 30, 2009
Copyright:Attribution Non-commercial

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04/29/2013

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Competence RelatedPayDr. Gunjan Mathur
 
competency-based pay
With competency-based pay, an employee ispaid for the range, depth and types of skillsand knowledge he/she is capable of using inthe job rather than for the position they hold.
The "new pay" approach to compensationattempts to address organizational needs tomotivate employees and supportorganizational strategies.
 
Differences BetweenPerformance-Related andCompetence-Related Pay
CRP looks forward - it implies that when peoplehave reached a certain level of competence theywill go on using it effectively into the future - PRPlooks backwards at what you have just achievedand this is the reward for achieving it(Armstrong, 2003)

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