What is the performance related pay?

Asked on 24.10.2018 in All Questions.
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(Top Tutor) Studyfaq Tutor
Performance related pay is the rewarding of an employee with financial payment following the assessment of the individual’s productivity and the achievement of objectives according to Paul Suff, 2007. Taylor believed that employees were motivated primarily by money and developed the piece rate in which employees were paid in accordance with their productivity. Performance related pay is designed to motivate employees to increase their productivity and to focus their efforts more closely with the aims of the organisation. It is most commonly used for managers in private sector organisations and less commonly for manual...
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