REWARD MANAGEMENT

Reward Management



Reward Management

Competency related pay

For human resource management, the competency-related pay is attractive. The concept of competency related pay fits within the human capital management which mainly focuses on the skills and competencies of the employees brought in the workplace. The forwards organization is focused through the competency related pay. Although evidence-based learning is valuable, the line manager spends less time in knowing the past activities. The main focus of the line manager is on the future of the organization, where the individual team members have certain standards and expectations. There is low emphasis on the quantitative targets through competency related pay. The competency payment systems works through rewarding people according to their capabilities instead of the results which are often not under control (equalityhumanrights.com).

The compensatory-related payment system has a different approach altogether. It focuses on the skills and individual competencies of the teacher, instead of the seniority and experience in years. The competency-related pay also focuses on the present and future organizational goals to meet the objectives and goals of the organization instead of the past performance and statistics. Compensatory-related pay, within all payment systems, is the best approach for individual motivation, competency and involvement in high positive results. It is like a cycle where the school system implements the compensatory-related pay, teachers get more committed and involved; they strive for best future results, students bring the same expected results and the compensatory-related pay system is successful (Neathey & Reilly, 2003).

Competency related pay is basically defined as the payment for the development and application of necessary skills, actions and behavior which support high performing individuals, teams and organization. Competency-related pay is a great way to demonstrate personal development within the pervasive cultural attitude.

Implementation f competency related pay

The competencies are divided mainly into three characteristics which are knowledge, skills, behavior and personal characteristics. Knowledge and skills of an individual are found through the job specific sections in the job descriptions. Behavior from the Behaviorally Anchored Rating Scales (BARS) is used for the performance appraisal. For the teachers in UK, the competencies can be selected as knowledge, skills and abilities (KSA). For the teachers in UK, the competencies program can be developed with the time and management of the school management and teachers. The school is required to determine a unit to apply the pay system.

The management will decide along with the teachers what work will be done. The management will examine the determination of the work and the competencies required for work accomplishment. This will generally include work flow analysis, job descriptions, organizational materials and performance data. The competencies leading to superior and successful results will be distinguished. To develop the measure of the competency, the management will decide a common competency which can be found in every employee. The development of the competency measure will also determine to what degree the employees have the competency so that correct decisions can be made for the payment of employees. The measurement of the validity of the competency ...