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Essay / Research Paper Abstract
This 12 page paper looks at the way in which performance related pay (PRP) is being used to try to control improved performance in the workplace. The writer begins by defining performance related pay and then considers how and why it may be motivational and increase performance along with how it may be interpreted negatively by the employees. The paper focuses on the UK and Europe citing companies and cases, but the theories are valid globally. The bibliography cites 18 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEprpmot.rtf
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Unformatted sample text from the term paper:
interpreted negatively by the employees. The paper focuses on the UK and Europe citing companies and cases, but the theories are valid globally. The bibliography cites 18 sources. TEprpmot.wps
Managing
Performance through the Pay Packet United Kingdom, October 2001. To Use This Report Correctly, I. Introduction
In a competitive environment there is a need for all companies to maximise the use of their available resources. This means that budgets need to be justified and productivity increases
in order to remain competitive. When we consider this we can see that the human labour that is available to a company and the intellectual capital within the employees base
are both resources that can be maximised with the right motivations. It is due to the desire to increase productivity, with the desire to reward outstanding performance and cut costs
on under performance, that the current trend towards performance related pay has developed. The argument that is by linking pay to performance the employee should be motivated to perform to
a higher standard. Before we consider the impact that this has on motivation and how it may be interpreted we need to define what we man by performance related
pay. There are many forms of performance related pay. They are not mutually exclusive so may be found in conjunction with each other. These are a few of the most
common. Piecework is an old form or performance related pay, there are payments made for each unit produced (Unison, 2001). This is still common in some industries such as garment
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