StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

Implementing Performance Related Pay in to a Company - Case Study Example

Comments (0) Cite this document
Summary
This paper aims at discussing the usefulness and drawbacks of implementing Performance related pay in to a company. The chosen company for this study is NHS (National Health Service). The planned change involves the implementation of performance related pay into the organization…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.4% of users find it useful
Implementing Performance Related Pay in to a Company
Read TextPreview

Extract of sample "Implementing Performance Related Pay in to a Company"

Download file to see previous pages The National Health Service was started in July 1948, to provide the citizens with a free health care service. The main aim of the service was to provide good health service to all without the patient having to pay for the services. The hospitals were financed entirely from taxes paid by the people in accordance with their financial situation (Dowling and Richardson).
The health secretary Aneurin Bevan opened a Park Hospital in Manchester which brought together doctors, nurses, pharmacists, opticians, dentist, hospitals and all medical facilities within one organisation. Bevan, a Welsh miner was very passionate about the NHS and wanted to ensure that everybody receives the best treatment at any given point of time in the country, without having to worry about the cost of the treatment. His main aim was to put the welfare of the sick before any other consideration, despite the financial and economic anxieties at that time.
Performance Related Pay refers to pay scheme used to measure individual performance in the company. It can also be used to measure group or organisational performance. The main objectives of introduction of performance related pay were to increase motivation in employees to perform better, increase the self esteem of employees, provide better understanding of the job description and functions, create better communication amongst the participants, encourage employees to be self motivated, and help improve the institutional manpower planning(DeSilva). It also helps recognise the achievements of individuals and identifies the under performers, thus creating fairness in pay. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Implementing Performance Related Pay in to a Company Case Study, n.d.)
Implementing Performance Related Pay in to a Company Case Study. https://studentshare.org/business/1728367-human-resourcing-and-rewards
(Implementing Performance Related Pay in to a Company Case Study)
Implementing Performance Related Pay in to a Company Case Study. https://studentshare.org/business/1728367-human-resourcing-and-rewards.
“Implementing Performance Related Pay in to a Company Case Study”. https://studentshare.org/business/1728367-human-resourcing-and-rewards.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Implementing Performance Related Pay in to a Company

Strategic Human Resource Management. Performance-Related Pay Systems

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... Pay Systems Elective Module: Strategic Human Resource Management Introduction Within a modern business environment, employers must balance the needs of the business with the requirements of the employees. Human Resource Management (HRM) is an important aspect of this, where employers organise and develop strategies for working with their employees. Many employees work inefficiently, as they have no desire to perform well for the company. This comes from the fact that what is good for the company is not necessarily the same as what is best for the employee. Businesses are generally aiming to make the highest profit possible, while...
12 Pages(3000 words)Essay

Performance Related Pay in TYLT Mobile

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... Discussions In this section, the researcher will analyse and evaluate the various findings from the results of the field work conducted on Performance Related Pay in TYLT Mobile. This section will align the findings of the survey with the fundamental theories of motivation in order to interpret the results. The discussion will include some important findings and how they reflect general trends in the company. This section will set the framework for recommendations and conclusions which will come up in the next chapter of the dissertation. 5.1 Participants and Relevant Theories of Motivation The ultimate purpose of a Performance Related...
11 Pages(2750 words)Essay

Merit Pay and Performance

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... Merit Pay and Performance My My School My My Teacher 4 September Merit Pay and Performance One of management’s top concerns is to motivate employees to give their best for the organization. Incentives are among the instruments that management can use to promote optimal employee or workforce performance. Towards achieving organizational objectives, structuring pays along performance or merit pays have received much attention lately. But do merit pays work? The work examines the question based on recent literature. Based on evidence provided by the literature, there is good support for the view that merit pays can influence employee...
9 Pages(2250 words)Book Report/Review

Reward management and performance related pay

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... R.Preeti 5/2007 Reward Management Introduction In today's fast-paced modern world, the job market seems to be getting more and more diverse, wide and inclusive of a great number of potential factors, that could affect the way one sees his job. Human Resources Management is one such area that is gaining importance by the day. Human Resources Managers work towards the fundamental problem of creating a balance between the expectations of both, employers and employees. The job market is getting highly competitive and retaining good talent is becoming an arduou...
6 Pages(1500 words)Essay

Performance Related Pay

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... MUTINDA ORDER NO:126402 28TH MAY 2006 Although the relationship between pay and performance is complex and problematic performancepay remains of central interest to employers as a human resorting strategy aimed at improving organizational performance. Comment critically on the above statement. Performance pay is a system of rewarding employees which is based on perceived out put often without clear measurement formula but which depends on the discretion of the supervisor or the line manager concerning the employee. Compared to other pay system performance pay is more complex and more difficult to implement. A critical look at ...
15 Pages(3750 words)Essay

Performance-Related Pay

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... Dissertation Proposal: Topic: Performance Relate Pay – Approaches, Effectiveness, and Employee Satisfaction. Introduction: This dissertation aimsat understanding the appraisal method – Performance related pay. The dissertation will begin with an overview of the different appraisal methods. An analysis of how pays affect employee effectiveness, their motivation and satisfaction levels at work will be discussed. An explanation of how performance related pay works and the principles of performance related pay will be touched upon. A brief about how reward approach effects contribution of employees (Brown & Armstrong, 1999) will also be...
3 Pages(750 words)Assignment

Disadvantages of Performance-related Pay outweigh its Advantages

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... of Performance-related Pay outweigh its Advantages Roll No: Teacher: 8th December 2008 Table of Contents Table of Contents 2 Disadvantages of Performance-related Pay outweigh its Advantages 3 Introduction 3 Forms of Performance related Pay 4 Performance related Pay 5 Advantages and Disadvantages of Performance related Pay 7 Conclusion 10 References 11 Disadvantages of Performance-related Pay outweigh its Advantages Introduction ‘Performance-related pay comes in several forms but, in each case, their disadvantages as a system of reward outweigh their advantages’. Performance-related pay is a kind of pay that is provided to an e...
10 Pages(2500 words)Essay

Human Resource management: Performance-related pay literature review

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... 2 Literature review In order to examine the role of motivational plans and other things in the Chinese Telecommunications Company under review, there is the need to undertake a thorough literature review in this chapter. The research will be based on a critical review and analysis of secondary sources concerning the role of performance related pay and their role in motivating employees. The review will critique important elements and aspects of the fundamental theories that define motivation and employee commitment. This will include important theories like expectancy theory, agency theory and other performance related pay arrangements...
11 Pages(2750 words)Essay

The Importance of Performance Related Pay in Motivating Employees

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... Importance of Performance Related Pay in Motivating Employees [Institute] Contents Exercise Research Question 3 Exercise 2 - The Timetable 6 Exercise 3 - Locating Literature 6 Exercise 4 – Research Philosophy and Approach 9 Exercise 5 - Sample 12 Exercise 6 - Ethical Considerations 13 Exercise 7 - Research Techniques 15 References 18 Exercise 1 - Research Question The fact that pay is a major motivating tool for employees cannot be neglected. Though there are intrinsic motivational factors as well, but this fact cannot be denied that without monetary compensation employees may not be interested in job. Among different types of compensati...
16 Pages(4000 words)Research Proposal

Performance-Related-Pay

...Implementing Performance Related Pay in to a Company... Implementing Performance Related Pay in to a Company... the increased competitive environment due to globalization, Performance-related-Pay (PRP) has become an important toolkit for optimizing human resources in the face of competition. PRP influences not just the economic performance but also impacts the issue of pay inequality. PRP has been defined as a “method of payment where an individual employee receives increases in pay based wholly or partly on the regular and systematic assessment of job performance” (ACAS, cited by Lewis, 1998). Many organizations have performance management system and attach incentives and rewards to attain objectives. This paper will discuss the effectiveness of ...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Implementing Performance Related Pay in to a Company for FREE!

Contact Us