PERFORMANCE RELATED PAY

Performance Related Pay

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Performance Related Pay

Thesis Statement

Most of the organizations these days are using the tactics of Performance related pay (PR) in order to encourage and motivate increased performances from their employees.

Introduction

Performance related pay (PRP) is a term that includes a system that tries to associate pay with some measure of the level of an individual, group or any organizational performance. It provides them with financial kinds of rewards in the form of a boost in basic pay or bonuses in cash that are linked with assessment of performance, usually on the basis of agreed objectives. ...