Performance improvement refers to the process of identifying and addressing any issues or deficiencies in the way that an organization or its employees are functioning, with the goal of increasing efficiency, productivity, and overall effectiveness. Performance improvement can be applied at the individual, team, or organizational level, and can involve a variety of strategies and approaches

Competency-based pay is a type of compensation system in which employees are paid based on the specific skills and competencies they bring to their job, rather than on their job title or seniority. In a competency-based pay system, employees are typically evaluated on a set of predetermined competencies, and their pay is determined based on their level of proficiency in those competencies. The goal of competency-based pay is to align employee pay with their individual skills and abilities, and to encourage employees to develop and enhance their competencies in order to improve their earning potential.

Discover the advantages of pay equity: fair compensation, reduced wage gaps, higher morale, and economic growth. Learn how to propagate pay equity effectively. Explore now!