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Skill Based Pay
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Skill Based Pay
What lead to the need of SBP
- • The desire to pay more flexible and productive employees
- incentives for employees to get trained in many skills make unique products, people, and work processes
- Leads to a strong business strategy
- • Procter & Gamble in the 1960s was the 1st manufacturing plant to use a SBP system
Who Uses Skill Based Pay?
- Used mostly with non-exempt manufacturing employees
- Has recently been adopted by:
- Telecommunication companies like AT&T
- Insurance companies such as Shenandoah Life
- Hotels such as Crown Plaza
- Retailing companies like Dayton Hudson
Presented by:
Hanna Dittrich
Dan Dubois
Tyler Farrington
Skill Based Pay
- Compensation system that rewards employees with additional pay in exchange for formal certification of the employee’s mastery of skills, knowledge, and/or competencies.
- • Purpose is to promote learning and development to employees that benefit the workplace environment
- Three types/Dimensions of skills
- Horizontal, Vertical, Depth
The Con`s of SBP
The Pro`s to SBP
- A flexible workforce
- Lowered labor costs
- Increased quality
- Increased productivity
- Promotes new learning
- Can lead to greater profits
- Higher individual pay rates
- Training investment in both time and money
- Errors due to multiple learning curves
- Skill assessment difficulties
- Administrative complexity
- Personal reluctance to learn
ELEMENTS
What lead to the need of SBP
Of the
Presentation
Who uses SBP
Current Effectiveness to eliminate issues in the work place
Statistical info and pros and cons
Impact on day-to-day management of HR
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