Asked by Alexia Keobangsy on Jul 24, 2024
Verified
Skill-based pay is a motivation system whereby people are paid on the basis of how many skills they have mastered.
Skill-based Pay
A compensation system where employees are paid based on the skills and knowledge they possess rather than their job title or position.
Motivation System
A framework within an organization designed to stimulate and encourage employees to achieve goals and improve performance.
- Comprehend the mechanics of pay systems based on skill and their repercussions on the cost of training.
Verified Answer
CV
Carlos VilarinoJul 24, 2024
Final Answer :
True
Explanation :
Skill-based pay rewards employees for the range or depth of their skills and knowledge, rather than for the specific job they perform, aiming to motivate them to learn and master more skills.
Learning Objectives
- Comprehend the mechanics of pay systems based on skill and their repercussions on the cost of training.