BUSI 4603 COMPENSATION AND BENEFITS

SPRING 2022

WEEK 7  ASSIGNMENT #7

 

DUE: FRIDAY, FEBRUARY 25, 2022, AT 11:00 P.M. CT

 

CHAPTER 5.  PERSON-FOCUSED PAY

Chapter 5 will cover the basics of person-focused pay which focuses on continued performance-related development and training (KSAs: knowledge, skills, and abilities)

1.      Compare person-focused pay to merit and incentive pay.

2.      Define the following:

a.      Pay-for-knowledge

b.      Skill-based pay

c.       Horizontal skills

d.      Vertical skills

e.      Depth of skills

3.      Define competency.  Explain the U.S. Department of Labor’s Competency Model (Figure 5.1, page 112).

4.      What does your text state about the effectiveness of person-focused pay systems?

5.      List and briefly explain the two reasons to adopt this type of program.

6.      List and briefly explain the four types of common person-focused pay structures.

7.      List and briefly explain three advantages and disadvantages of this type of pay system.