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What are the limitations of a balance sheet?
Skill Certification
A formal process through which an individual's expertise in specific areas is recognized, typically through assessments or coursework.
Competency-Based Pay
Salary determination method where compensation is based on an employee's skill, knowledge, and performance level rather than job title or position.
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.
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