Rewarding competencies at the Bank of Scotland
Article Abstract:
The Bank of Scotland has introduced a competency-based pay system in order to tie pay to performance for clerical and technical staff. The more flexible job grade framework allows wages to be tied directly to employees' technical skills and individual competencies or behaviors. The bank wants to create a flatter organization that provides stronger employee motivation while making the bank more competitive. Pay progession, the revised appraisal review process, competency standards, the salary structure itself, and other details of the revised system are also discussed.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1997
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Team reward, part 1
Article Abstract:
Team-based compensation plans typically award bonuses for individual or group performance in addition to regular salaries. Companies use this type of merit pay to improve quality, flexibility, cooperation, and productivity, or to emphasize organizations' objectives or goals. However, team pay can also hurt organizational flexibility, increase pressures to conform, demotivate individuals, and only may be successful in difficult-to-identify well-managed teams.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1996
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Team reward: part 2
Article Abstract:
The UK's Ethicon Ltd. and the Kent County Council and the Ethicon company have successfully implemented team reward programs during the mid-1990s. Ethicon introduced a revised pay structure and teamworking concepts, replacing individual incentives with a performance-based team bonus plan. The Kent County Council's Adult Education Service managers receive a performance-based team award, a change that has improved morale and motivation.
Publication Name: Pay and Benefits Bulletin
Subject: Law
ISSN: 0143-8328
Year: 1996
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