Competency-based Pay and Broadbanding

Competency-based Approach
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Anneke Zwart
Student (University), Netherlands
Competency-based pay is a pay system that compensates employees on their skill set, their knowledge, and their experience. It's an alternative to traditional pay approaches that are based on job title and position. The idea behind competency-based pay is to encourage employees to improve themselves (skills, knowledge and experience) and thus contribute more to the company. A common form of competency-based pay is Broadbanding. What is Broadbanding exactly? Broadbanding is a pay strategy that consolidates the many distinct pay grades of traditional pay structures into only few “broad bands”. Because there are only few pay grades in the pay structure, a person’s payment cannot only be increased by job promotion (as is the case in traditional pay structures) but also by improved skills and competencies. The salary is determined by the value a worker delivers relative to the value of the position to the company. In other words, broadbanding blends skills, performance, competencies, the c (...) Read more? Sign up for free

  Egbert Benstrong
Consultant, Seychelles
 

Competency Based Broadbanding

Hi Anneke, myy first time here. I find your short (...)

 

More on Competency-based Approach
Summary
Forum
🔥Advantages and Disadvantages of Competency-based Pay. Pros and Cons
Competency-based Approach, Has it Begun or Finished?
Competency-based Pay and Broadbanding
Techniques for Competency Based Approach
Competency Mapping
Theorists of Competency Based Leadership
Developing Managerial Behavioral Competencies
Best Practices
Project Work in Competency Based-approach
Characteristics of the Competency-based Approach
Competency-based Teaching Techniques in a Crowded Class
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