advantages and disadvantages of compensation approaches such as skill-based pay… 1 answer below »

Answer the following questions: What are the advantages and disadvantages of compensation approaches such as skill-based pay and competency-based pay? How can the disadvantages be overcome? Some companies have moved away from commission-based incentive plans to team-oriented incentive plans. How do you think this change will affect these companies?

Your answers need to contain information from the textbook and information from outside the textbook. This could include Power-Web, a website, or journal articles, short you tube videos, etc. This means you need to cite what your source by using the APA style and that you have provided the reference/s at the end of the discussion question.

Your answers should be thoughtful and thorough in content. Each initial answer should be at least 300 words in length.

Two references are required. One can be the text and the 2nd needs to be from a scholarly or reputable internet resource