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Essay / Research Paper Abstract
This 3-page paper gives an overview of pay for performance systems in the UK, and how effective they may or may not be. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MTprpauk.rtf
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Unformatted sample text from the term paper:
of bonus systems and the best of supervision are of little use if the underlying pay structure is felt to be unfair." The
main theory behind performance-based pay is that employee will expend the effort, and in doing so, they expect to be rewarded for it (Reilly, 2005). This is a main "behaviorist"
point of view, in that this is a sign of positive reinforcement (Reilly, 2005). If the employee receives enough money (or knows that he or she will receive enough money
over time), then the employee will work harder. This is the motivation factor that is similar to dangling the carrot stick. Others believe,
however, that using strict rewards as a motivator (as in pay for performance) wont make a bit of difference, especially if the reward, in this case isnt large enough --
if employees are only expected to work for a pittance, then many wont believe doing so is worth any kind of payment (Reilly, 2005). Also, if individuals dont believe theyre
being compensated well enough for their work, or as much as the other guy is, there wont be enough motivation to do the job, either (Reilly, 2005). Most experts, in
fact, believe that pay-for-performance should be used (if at all), in conjunction with other motivational models (such as goal motivation) (Reilly, 2005). Basically,
the performance-related pay system ends up being a controversial matter, with people not really being able to agree whether or not it is effective, or that it simply doesnt work.
Under what conditions should managers introduce a link between pay and performance? What institutions are required to ensure fair operation of such a payment system?
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