Building a business focus through competency-based pay

Article Abstract:

A competency-based pay (CBP) system rewards employees' performance and their contributions to the company. Unlike skill-based pay programs that focus only on an employee's ability to perform a given task, CBP measures employee skills, output and competencies. One of the program's highlight is the measurement of behavioral skills aside from job competencies. Behavioral competencies involve team skills, customer skills and internal skills.

Management, Employee performance appraisals, Performance appraisals

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Achieving true "pay for performance": a comprehensive approach

Article Abstract:

Incentive compensation below the executive level has been a slow development among corporations. They should be properly designed to get results. Ernst & Young has enumerated ten criteria for the successful implementation of incentive compensation planning. These basic criteria can be applied to traditional settings involving individual performance and nontraditional settings involving skill-based pay or gainsharing.

Evaluation, Corporations, Incentives (Business)

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