Advocates of Competency-Based Pay Assert That the System Encourages Employees

question 104

True/False

Advocates of competency-based pay assert that the system encourages employees to develop the knowledge, skills, and behaviors a firm needs to achieve its strategic goals.

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Definitions:

Gains From Immigration

The economic or social benefits that accrue to a country as a result of immigration, including increased labor force and cultural diversity.

Labor Force

Comprises all the working-age people in an economy who are employed or are actively seeking employment.

Explicit Cost

Direct payment made to others in the process of running a business, such as wages, rent, and materials.

Future Earnings

The projected income a person or entity will receive from work or investments in the future.