PERFORMANCE-RELATED COMPENSATION DESIGN

Employees are the backbone of any organization. Organizational growth and sustainability highly depend on the quality of performance of the employees. Performance management system, therefore, must objectively link the individual level performance of employees with the overall performance of the organizations. Wages or compensation is the most important vehicle of performance management. Most of the organizations, therefore, embrace the system of performance-linked compensation for its obvious strategic dimension. It facilitates compensation cost optimization, as non-performers do not required to be paid like the performers. Even with higher payment of compensation to performers, organizations can optimize ...

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