Performance Related Pay

doing disturbd Pay Author of Report: Shevon Oxford (Personnel manager) The purpose of this accounting is to gather views from staff regarding the introduction of a performance think pay system. Requested by: Tony Milward (Personnel Director) of Transmitacom. Transmitacom is a company, which produces software for the telecommunication industry. Date request was made: 01/11/04 Date holy: 16/11/2004 The data was collected from a innovation of books dedicated to the subject of Performance Related Pay and from an name entitled: Performance Related Pay is it a bonus? Also from internet sources. What is Performance Related Pay? Performance related pay is the idea of Frederick Taylor who comp reversed his theory of scientific management. ?It is a bonus salary increase awarded in line with an employees work over a range of criteria. These criteria depend on each job. (David Lines and Ian Marcouse pp) A company that adopts this method has to set clearly delimit objectiveso that staff know what they rae doing. Awards are decided based on appraisal results. They must link achievements to pay (and decide how very much to pay and where the money comes from).

This table looks at the advantages and disadvantages of Performance Relate Pay from the article: AdvantagesDisadvantages ?Only those who perform well play paid ?Rewards employees with highest productivity ?It is argued this system motivates staff ?It enables firms to recruit highly qualified staff who equivalent the idea of being able to earn a bonus ?Encourages employees whose performance is not up to scratch to leave company on a voluntary basis ?Easy to identify companies aims and objectives ?High flyers summon it attractive?Possible to give employees no pay rise at all ?Inflations means pay will be eject and this coupled with the indignity of being judged and found indirect requesting would, would make it that employees examine a job elsewhere ?Union influence within the company... If you want to get a full essay, order it on our website: Orderessay

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