Which of the following terms is also used to describe competency-based pay?

A) incentive pay
B) commission pay
C) skilled-based pay
D) broadband pay

Competency-Based Pay

A compensation system that rewards employees based on their skills, knowledge, and performance rather than their job title or position.

Skilled-Based Pay

A compensation strategy where employees are paid based on their skills, certifications, or knowledge, rather than their job title or position.

Incentive Pay

A form of compensation designed to reward employees for achieving performance targets or completing specific objectives.