Relating Competencies to Pay: The UK Experience

Abstract

Although paying for competence is not a simple option, many companies are turning to this solution in order to meet their needs for a highly skilled, competent, and professional workforce. Companies in the UK have developed an interesting range of tailored and hybrid approaches to linking competencies and pay. Their approaches combine considerations of the job and the person, job evaluation and individual pay adjustment, and results and competence, with rewarding results.