APPLICATION OF SKILL-BASED PAY
Despite having major obstacles to introduce skill-based pay, many organizations can make best use of it for all cross-sections of employees, including managerial levels. To successfully apply, organizations need to design it with technological considerations, so that identified skills do not get quickly redundant. Identified skill elements should be relevant and accepted both by the employees and the management; it should be consistent and implemented with integrity. A participative task force should be formed to look into various aspects, right from development to implementation of skill-based pay. The task force considers all the issues pointed out in the list of obstacles and then determine the relative value ...
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