Glossary   >  Competency-based Pay

Competency-based Pay

What is Competency-based Pay?

Competence-based pay is an organization’s pay system, wherein the payment is determined based on the type of skills the employees put into practice for the organization. The pay isn’t concerned with the designation but is purely based on the employee’s skills and experience. It is also known as skill-based or knowledge-based pay.

Request Free Trial