PAY FOR PERFORMANCE. Pay for Performance Method. Social Sciences (Essay Sample)

Student’s Name
Professor’s Name
Business and Management
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Pay for Performance Method
Pay for performance (P4P) fundamentally rewards extremely productive employees with greater incomes. The best performers advance the organization and provide it with the greatest revenue potential and should, therefore, receive extra cash benefits. Usually, the program provides no guarantees for rises or bonuses unless certain performance targets are reached. The merit pay may take the form of rewards or exponential basic pay rises.
Managers who appreciate engagement psychology and establish a coherent atmosphere will always have employees involved (Hauck 2012). An organisation at its heart consists of people and machinery. Now which one of these will have the most impact on the organisation's achievement? Much emphasis should be put on the person since she is the one who needs to be innovative, driven, qualified, effective and accountable.