Which of the following approach rewards competencies of the employees such as those related to the international business context,social skills etc?
A) Broad-banding
B) Skill pay
C) Competency pay
D) Pay for knowledge workers in teams

Question

Quizplus · Accepted Answer

Competency pay is designed to reward employees based on their specific competencies, or skills, related to their job or the context in which they work. This approach would take into account competencies such as those related to international business or social skills. Broad-banding, skill pay, and pay for knowledge workers in teams may also be used to reward employees, but they focus on different factors, such as job grades, individual skills, or team knowledge.

Which of the Following Approach Rewards Competencies of the Employees