Companies view skill-and competency-based pay plans as a way to develop the critical behaviors and abilities employees need to achieve specific business results.

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Skill- and competency-based pay plans are designed to encourage employees to develop the skills and behaviors necessary to succeed in their roles and achieve specific business results. By linking pay and rewards to specific competencies and performance outcomes, organizations can motivate employees to continually improve and grow in their jobs.

Companies View Skill-And Competency-Based Pay Plans as a Way to Develop