An employee's salary paid for his skills and knowledge is called?
Correct answer: B. competency based pay
- A. time based pay
- B. competency based pay
- C. internship based salary
- D. training based payGet Executive Coaching
Explanation
Competency-based pay rewards the skills, knowledge, abilities, and behaviors an employee possesses or demonstrates, rather than simply time spent on the job. It is therefore different from time-based pay.
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About Human Resource Management
Human resource management deals with acquiring, developing, rewarding and retaining employees within an organisation. It includes job analysis, recruitment, selection, training, performance appraisal, compensation, career planning, labour relations and workplace discipline. Recruitment attracts applicants, while selection evaluates them and chooses the most suitable candidate.
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