Home > Terms > English, UK (UE) > Competency-based pay
Competency-based pay
Competency based pay is a compensation system that recognises employees for the depth, breadth, and types of skills they obtain and apply in their work. Also known as skill based and knowledge based pay.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Business services
- Category: Human resources
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