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Identifying Competencies
The process of defining the abilities, skills, knowledge, and behaviors necessary for effective performance in a specific job role.
Merit Pay Grid
A compensation structure that determines pay increases based on an employee's performance and position within a pay grade.
Pay for Knowledge Systems
Compensation strategies that reward employees for expanding their skills or obtaining further education relevant to their job.
Job-Based Pay
A compensation strategy where employee pay is determined by the specific job roles and responsibilities rather than the individual's performance or skill level.
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