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Pay for Performance Plan

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Pay for Performance Plan

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  1. Pay-For-Performance Plans A http://www.helpinwriting.com/ Creation

  2. Introduction • Organisations want to maintain high profits • There should be balance between the reward system and profit goals. • This presentation looks at pay-for-performance plan. Get more information through visiting: http://www.helpinwriting.com/

  3. Measurement of Effective Pay for Performance • There should be management of the payment system. • There should be reasonable measurement of objectives to realize effective measure of performance. • Organisational achievement of goals show the reward system is good. • Translation of skills to measureable performance is important. Get more information through visiting: http://www.helpinwriting.com/

  4. Measurement of Effective Pay for Performance • Remuneration based on performance and quality increases quality of performance. • Pay based on performance increase quality and competitiveness. • Different schemes should focus on performance improvement. • Performance schemes are helpful in determining the effectiveness of any pay for performance process. Get more information through visiting: http://www.helpinwriting.com/

  5. Employees’ Perspective on Pay for Performance • Disadvantages to employees: • They are supposed to work harder • Many workers end up straining • Inexperienced employees may have low payments • It may be a one-time bonus • Does not guarantee a salary increment • It becomes unappealing if it is not consistent • Employees find it hard to be consistency • Performance drop affects remuneration Get more information through visiting: http://www.helpinwriting.com/

  6. Employers’ Perspective on Pay for Performance • HR department should get views from employees. • It is good to determine the effectiveness. • Realizing effective pay for performance is difficult. • Implementing this method is difficult. • An organisation conducts detailed performance appraisals. • Management has a challenge in following up performance consistency. Get more information through visiting: http://www.helpinwriting.com/

  7. Conclusion • Organisations should plan mutually beneficial pay for performance policies. • Organisations that employ this plan effectively succeed and maintain competitive advantage. Get more information through visiting: http://www.helpinwriting.com/

  8. Visiting Us at http://www.helpinwriting.com/ For more Information

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