hi wat is performance linked pay . wat is the difference between performance linked pay and the normal one. is per linked pay applicable to the hotel industry
From India,
1From India,
hi tania,
performance linked pay is very simple.. it is just a part of the pay is linked with the performance apprisal.. accoridng to the performance level you get in it you will get pay..
like there will be levels will be set in the paysystem.. that if you achieve 90% this much pay and more than this much etc., so some amount of apy is stable which you will get st. away..
but remaining amount is fixed to performance..
SBI is following it and many other back are trying to follow this performance linked payy..
From India, Vadodara
performance linked pay is very simple.. it is just a part of the pay is linked with the performance apprisal.. accoridng to the performance level you get in it you will get pay..
like there will be levels will be set in the paysystem.. that if you achieve 90% this much pay and more than this much etc., so some amount of apy is stable which you will get st. away..
but remaining amount is fixed to performance..
SBI is following it and many other back are trying to follow this performance linked payy..
From India, Vadodara
Hi Tania
Pay for performance systems are systems in which pay decisions are based on defined performance levels rather than entitlement, tenure, or other non-performance related factors
Benefits of a Pay for Performance System
1. Rewards high level performers
2. Provides greater incentive
3. Provides opportunities to encourage higher performance
4. Increases employee motivation
5. Contributes to employee retention
6. Deals more effectively with marginal performers
From India, Ahmadabad
Pay for performance systems are systems in which pay decisions are based on defined performance levels rather than entitlement, tenure, or other non-performance related factors
Benefits of a Pay for Performance System
1. Rewards high level performers
2. Provides greater incentive
3. Provides opportunities to encourage higher performance
4. Increases employee motivation
5. Contributes to employee retention
6. Deals more effectively with marginal performers
From India, Ahmadabad
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