With skill/competency-based pay, employees are paid for the range, depth, and type of skills and knowledge they are capable of using, rather than for the job currently held.

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With skill/competency-based pay, employees are paid based on the skills and knowledge they possess, which may be used across various roles and positions within the organization, rather than being limited to the job they currently hold.

With Skill/competency-Based Pay, Employees Are Paid for the Range, Depth