Knowledge-Based Pay

Posted in Human Resource Terms, Total Reads: 948
Advertisements

Definition: Knowledge-Based Pay

It is also called as Skill-based pay. It is a system to dole out different salary to different employees based on some of the parameters shown by them during the job. Some of those prominent factors are:

  • Education
  • Experience
  • Knowledge
  • Skills
  • Specialized training

 



Looking for Similar Definitions & Concepts, Search Business Concepts