Pay for Performance - 1697 Words

HR 434 Compensation Management 23 February 2012 Pay for Performance What better way to drive people to work harder and more efficiently, you may ask, than to offer them a special carrot: more money for hitting specific company targets? The idea seems perfect. Studies have shown time and again that pay represents one of the most important factors involved in retaining qualified employees, it is little wonder that there has been a great deal of attention focused on how best to compensate employees for their performance in recent years. Moreover, because employee performance and productivity is inextricably related to organizational profitability, these issues have assumed new relevance and importance in the current economic†¦show more content†¦For instance, Risher advises, â€Å"While it is effectively a universal practice for white-collar employees in non-government sectors, [pay-for-performance programs] represent a radical and difficult change for public agencies† (p.51). Likewise, Hyde advises that, â€Å"Pay f or performance has been proposed, debated, and dismissed for over fifty years in public personnel management. Although legal challenges have been filed, pay for performance emerges as the new model for federal human resources pay practice and the cornerstone of federal public management strategy† (p. 3). Nevertheless, beyond the legal challenges involved, there are a number of constraints to the implementation and execution of such initiatives that can make or break their success. This point is made by Kellough and Nigro who report that a pay-for-performance initiative in the State of Georgia known as â€Å"GeorgiaGain† has been viewed by many state employees as inherently unfair and wracked by favoritism despite the enormous amount of resources devoted to the program’s design and implementation (p. 447). Likewise, in his analysis of pay-for-performanceShow MoreRelatedPay for Performance Essay1858 Words   |  8 PagesPay for Performance Park University Overview Incentive pay, also known as pay for performance is generally given for specific performance results rather than simply for time worked. While incentives are not the answer to all personnel challenges, they can do much to increase worker performance. (Billikopf) Performance pay has various names: merit pay, pay for performance, knowledge-and-skill- based pay, or individual or group incentive pay. (Delisio) Pay for performance systems haveRead MoreBenefits Of Performance Related Pay1376 Words   |  6 Pagesthat performance related pay has been motivating employees who works in companies/organisations from small to big, hence the distribution of bonuses definitely need to be taken into account. A bonus is an extra compensation given to an employee above his/her normal wage. A bonus also could be used as a reward for accomplishing specific goals set by the company, or for devotion to the company. However Performance related pay methods has broaden up into different topics, Individual-performance pay andRead MoreThe Merits Of Teacher Performance Pay3187 Words   |  13 PagesTHE MERITS OF TEACHER PERFORMANCE PAY IN KENYA Introduction This paper discusses the merits of performance pay for teachers in Kenya. I argued here that remuneration reforms for civil service teachers will achieve production efficiency. This paper has three main sections. Section 1 gives a brief description of the scheme of service for teachers in Kenya. Section 2 highlights the economic case in favour of teacher salaries and identifies the government failures in ensuring teacher effectiveness.Read MoreWeek Five Assignment : Pay For Performance1218 Words   |  5 Pages Week Five Assignment: Pay for Performance Yadilka York American Public University System Professor Daniel Hladky Human Resource management- HRMT 407 September 4, 2016 â€Æ' ABSTRACT The debate encompassing legitimacy pay for instructors has existed for a considerable length of time in numerous nations over the globe. The level headed discussion has been especially warned in the United States. Since the 1920s, government funded schools started honoring pay generally as indicated by titleRead MoreBenefits And Disadvantages Of Performance Related Pay1808 Words   |  8 PagesQuestion 15: Discuss the advantages and disadvantages of performance related pay. To what extent should it be a model of remuneration for employees across all pay scales? OUTLINE I. Introduction 1. 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Brown and Armstrong (1999) claimedRead MoreWhat Are the Benefits and Problems of Performance-Related Pay Systems for Both Employees and Employers?2001 Words   |  9 PagesPerformance-related pay (PRP) grew during the 1980s and 1990s due to the decline in Payment by Results (PBR) schemes. PRP looked beyond traditional PBR incentives, they reward individual contributions based on performance rather than on effort. These incentive schemes can filter throughout an organisation to motivate manager’s right through to the manual worker s. This essay will try to outline the benefits and drawbacks of the PRP method for employers and employees using case study examplesRead MorePay for Performance1091 Words   |  5 Pagesincentive plans are â€Å"pay-for-performance† plans. They pay all employees based on the employee’s performance (Dessler). Compensation is a primary motivator for employees. People look for jobs that not only suit their creativity and talents, but compensate them both in terms of salary and other benefits accordingly. Compensation is also one of the fastest changing fields in Human Resources, as companies continue to investigate various ways of rewarding employees for performance. It is very importantRead MorePay For Performance And Employee Performance3267 Words   |  14 Pages1. Pay for performance is to link employees’ salary or salary increase to his or her performance. It seems to be a reasonable or attractive idea but it often does not work well in organizations. Please use at least 4 motivation theories or models to explain why pay for performance may not work as expected—particularly in government and nonprofit organizations. Pay for performance is a quite rational theory. According to the U.S. Merit System Protection Board (2006), â€Å"Pay for Performance refersRead MoreReimbursement and Pay-for-Performance1530 Words   |  7 PagesReimbursement and Pay-for-Performance HCS 531 November 11th, 2013 Regina Pointer Introduction There is a growing trend in the United States called pay-for-performance. Pay-for-performance is a system that is used where providers are compensated by payers for meeting certain pre-established measures for quality and efficiency (What is Pay-for-Performance, n.a.). We are going to be discussing what pay-for-performance is. There are different aspects of pay-for-performance which include; the effects