Competency-Based Pay

HR Glossary for HR Professionals

Glossary of the most common HR terms and acronyms to assist professionals navigating the ever-growing and ever-changing world of HR terminology.

Competency-Based Pay

What is Competency-Based Pay?

Competency-based pay is a pay structure that compensates employees based on their skills, knowledge, and experience as it relates to the job. This pay structure often encourages further development of skills and knowledge related to the position and field of work.

Related Terms: Skill-Based Pay

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