Knowledge-Based Pay

Business / Human Resources (HR) / Knowledge-Based Pay: A salary differentiation system that bases compensation on an individual’s education, experience, knowledge, skills or specialized training. Also referred to as skill-based pay.

Other Words for Pay

Pay Verb Synonyms: extend, bestow, transmit, pass on, give, deliver
Pay Noun Synonyms: recompense, compensate, remunerate, reward, indemnify, repay, refund, reimburse, pay off, pay out, pay up, satisfy, clear, remit, discharge, liquidate, settle, honor, meet
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Competency-Based Pay

Business / Human Resources (HR) / Competency-Based Pay: A compensation system that recognizes employees for the depth, breadth and types of skills they obtain and apply in their work. Also known as skill-based and knowledge-based pay. MORE

Payment Quantity

Business / Agriculture / Payment Quantity: The quantity of production eligible for production flexibility contract payments under the FAIR Act of 1996. Payment quantity is calculated as the farm’s program yield (per acre) multiplied by 85% o MORE

Payment Rate

Business / Agriculture / Payment Rate: Generally, the amount paid per unit of production (i.e., bushel, pound, hundredweight) to each participating farmer for eligible production under commodity income and price support programs. MORE

Payment Schedule

Business / Construction / Payment Schedule: A pre-agreed upon schedule of payments to a contractor usually based upon the amount of work completed. Such a schedule may include a deposit prior to the start of work. There may also be a temporary MORE

Payment Limitation

Business / Agriculture / Payment Limitation: The maximum annual amount of commodity program benefits a person can receive by law. Persons are defined under payment limitation regulations, established by USDA, to be individuals, members of joint MORE

Payment Float

Business / Finance / Payment Float: Company-written checks that have not yet cleared. MORE

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