Pay For Performance Fatal Flaws

Topics:
Strategic Management Tools
Tags:
Benefits,
Compensation,
Factor,
Flaw,
Human Resources,
Pay-for-performance
Source:
OpEx Consulting Group

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Overview: ‘Pay for Performance’ (PP) is a strategic tool within the framework of compensation management that envisages the concept of incentives and pay driven by actual performance. It is a mechanism to motivate employees and define specific goals for them. It is based on certain assumptions which includes increasing payment ensures enhanced performance by the employee. Designing a successful PP plan entails consideration of several important factors. An overlook of these factors causes many well-intentioned plans to fail. Some of these factors include inadequate resources, financial obsession, and poor communication. The paper examines these flaws.

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Format: PDF | Size: 143KB | Date: Jan 2002 | Pages: 3

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