COMPETENCE-RELATED PAY
Employers reluctant to pay for competencies
Half of employers surveyed by IRS have introduced competency frameworks but only three in ten of these have created a link with reward.
By far the most common means of rewarding levels of competence is to use existing individual performance-related pay process. But just one in 12 have "taken the radical step of changing their reward practices so that they are exclusively focused on levels of competence," says IRS.
| Ways of rewarding competence | |
| Incorporated into performance-related pay | 41% |
| Consolidated into annual pay increase | 21% |
| Wholly competency-related pay scheme | 8% |
| Competency-related bonus | 7% |
Sample size = 145 organisations.
Source: IRS.
Want to know more?
Title: "Reward journal investigates competency pay", by Neil Rankin, Competency & Emotional Intelligence, Winter 2004/05.
Availability: To subscribe contact IRS, tel: 020 8662 2000 or email: customer.services@lexisnexis.co.uk
To find out more about the quarterly journal Competency & Emotional Intelligence visit www.competencyandEI.com