Compare job-based pay with skill-based pay and provide an example of each.

  • Compare job-based pay with skill-based pay and provide an  example of each. Determine which pay you would prefer. Support your  decision.

  • Determine how government regulations affect compensation and if the regulations are needed. Support your position with examples.

Please respond to the following post.

 

Compare job-based pay with skill-based pay and provide an example of each. Determine which pay you would prefer. 

Skill  based pay (SBP) is a compensation system that rewards employees  additional pay for their formal certification of the employee’s mastery  of skills, knowledge, and/or competencies as well, it’s a pay system in  which pay increases are related to the number or depth of skills an  employee gets and applies. Meaning, you get paid for your certificate  and degrees earned too whereas in comparing to Job-based pay (JBP) is a  compensation system that pays employees based on the task they are  assigned to perform as well, it’s related to the job analysis and the  requirements of a job assign then the employer pays in accordance to the  expectations and needs of a given post. Meaning, no matter how many  certificates or degrees you earn you are only paid based on the task you  have performed and completed.

With  that in mind, the pay I would prefer would be the skill- based pay  because if you earn certificate or degrees it’s relevant to your job and  your pay, this skill encourages development of a broader and range of  skills of higher levels within the company for their employee in their  current jobs or positions. In other words, there is no limit to what you  can earn if you so desire.

2.

  • Examine the common elements of compensation packages. Determine  which two elements you believe to be the most motivational to an  employee and to you. Support your position.
  • Compare team and  individual bonuses and incentives. Determine which type of bonuses and  incentives you would prefer. Support your position with examples.
  • Please respond to the following.

in this week’s reading examining the common elements of compensation  package is I discovered that the two elements I believe to be the most  motivational to the employee and to self is the base pay and employee  rewards the base paid that comes with their hourly wages and the annual  salary and an employee rewards that gives the individual and group  incentives but my favorite is the group of  rewards that is based on the  collective performance of a team or the organization this helps the  team to share goals of  the broader group.

I like gainsharing in  group level incentive program for that program explores the working  together as a group and also shows that it helps the organization as a  whole to reduce costs and improve for the productivity. in healthcare  working in the well working in the emergency department they came up  with the idea of team sharing to process the people that come to the  emergency room in a faster way servicing them to get seen faster was a  group activity that reduce the calls and improve productivity within the  the organization

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