Question

Explain 5 Elements ( 1. Defines skills, 2. choose method, 3. training system, 4. formal testing, 5. design work ) of competency base pay.( answer with the explanation and example)

Answer 1

• Defining skills can help analyse best talents and skillfit for job roles and responsibilities and can bring people who have required skillset which organisation is in need for.
• Here methods are chosen for assessing and roles are assigned to stakeholders and timelines are listed to close the deal and decide on payment structure
• Here tasks are delegated and systems are trained for assessment, regular meetings and strategic planning takes place to decide pay structure
• Here learning tools are tested and feedback is taken and additional training and doubt solving is undertaken along with some subject tests.
• Finally base pay structure is designed and evaluation and measuring is done using various software framework to keep check on future increments and amount to be increased