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What are the downsides of skills-based pay

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Reference no: EM132872270

This week we are reviewing compensation approcahes and need assistance with the below:

In a skills-based compensation system, employees make more money as they gain and demonstrate new skills. That can lead to increased motivation to learn, and to greater flexibility for the organization.

What are the downsides of skills-based pay? If you were going to make a skill-based pay system, how would you design it to avoid those downsides? How could skills-based pay help an organization which is facing rapid change requiring new skills?

Reference no: EM132872270

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