Nobody downloaded yet

Pay for Performance:Complements or Substitutes Evidence from the UK private sector - Dissertation Example

Comments (0) Cite this document
Summary
Pay For Performance: Complements Or Substitutes? Evidence from the UK Private Sector Date Table of Contents Table of Contents 2 1.0 Introduction 3 1.1 Background 3 1.2 Main Aims 4 1.3 Specific Objectives 4 1.4 Issues to be discussed and Significance of the Study 4 1.5 Research Methods 5 2.0 Literature Review 5 3.0 Methodology 9 3.2 Discussion and Analysis of data 9 4.0 Conclusion and Recommendations 12 References 13 Pay For Performance: Complements Or Substitutes?…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92% of users find it useful
Pay for Performance:Complements or Substitutes Evidence from the UK private sector
Read TextPreview

Extract of sample
"Pay for Performance:Complements or Substitutes Evidence from the UK private sector"

Download file to see previous pages Traditionally, it may be thought that the more individuals are paid, the more satisfied and loyal they become with respect to their jobs and employers (Dahlstrom and Lapuente 2011, p.575). Many scholars have refuted this notion stating that several factors impact employee motivation. Some of the most effective factors in this respect include: autonomy, job security, public recognition, acknowledgement and praise, fear, competition, leadership opportunities, remuneration, and financial rewards among others. One of the strategies used by many private organizations to motivate and empower their employees is by offering them pay for performance or pay related performance (PRP). Commonly denoted as P4P, pay for performance involves rewarding employees based on their performance (Gielen, Kerkhofs and Ours 2010, p.292). The subject of and effectiveness of pay for performance has received a lot of attention recently, especially considering that many organizations are willing to sacrifice a little more just to ensure that they remain top performers in a competitive market. With many analysts noting the effectiveness of P4P, one question that remains unanswered is whether pay for performance complements or substitutes other methods of motivation. 1.2 Main Aims The main aim of this study is to establish whether pay for performance complements or substitutes other methods of motivation. 1.3 Specific Objectives 1. To establish how companies in the UK motivate their staff 2. To establish the extent to which companies in the United Kingdom apply pay for performance 3. To establish whether pay for performance complements or substitutes other methods of motivation. 1.4 Issues to be discussed and Significance of the Study A study conducted by the Massachusetts Institute of Technology revealed that where rudimentary cognitive skills are involved, P4P, in fact, results in poorer performance. The study however, established that if the jobs being done involve mechanical performance purely, P4P remains a most effective way of ensuring employee motivation and, therefore, increasing work performance. With many UK-based companies applying pay for performance in motivating their staff, there is a risk of them achieving outcomes that are opposite of their expectations, especially where cognitive skill as opposed to physical skill is most applicable. 1.5 Research Methods This study will involve the analysis of performance based pay through secondary data. A quantitative analysis of the motivational strategy will be applied to establish its effectiveness in U.K. companies. The study will be limited to the private sector. 2.0 Literature Review Pay for performance is not a new concept in the modern world. Involving the payment of workers based on how well they work, the concept of pay for performance is closely related to commission-based payment. The implication of pay for performance is that those who perform well get more pay even as those whose performance are low get low pay, possibly to the extent of realising that keeping the job is not worthwhile even if they are not fired by their employer. Different scholars have ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Pay for Performance:Complements or Substitutes Evidence from the UK Dissertation”, n.d.)
Pay for Performance:Complements or Substitutes Evidence from the UK Dissertation. Retrieved from https://studentshare.org/management/1403894-pay-for-performance-complements-or
(Pay for Performance:Complements or Substitutes Evidence from the UK Dissertation)
Pay for Performance:Complements or Substitutes Evidence from the UK Dissertation. https://studentshare.org/management/1403894-pay-for-performance-complements-or.
“Pay for Performance:Complements or Substitutes Evidence from the UK Dissertation”, n.d. https://studentshare.org/management/1403894-pay-for-performance-complements-or.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
E-marketing in UK Private Hospitals
...by IT Investment and Regulation Changes: Evidence from the Healthcare Industry. Decision Support Systems, 30, pp. 153-169. Mundy, D. P., 2006 Customer Privacy on UK Healthcare Websites. Medical Informatics & the Internet in Medicine, 31(3), pp. 175-193. Omachonu, V.K. & Einspruch, N. G., 2010. Innovation in Healthcare Delivery Systems: A Conceptual Framework. The Innovation Journal: The Public Sector Innovation Journal, 15(1), pp. 1-20. Private Healthcare UK, 2012. Intuition Communication Limited. Hospitals and Clinics. [Online] Available at: http://www.privatehealth.co.uk/private-hospitals/ [Accessed January 30, 2012]. Rolland, E. & et. al.,...
16 Pages(4000 words)Dissertation
UK retail sector during financial crisis
...disturbance from another country could easily and swiftly spread across the globe. The study describes the retail industry in the UK and provides a documentation of its development. An important variable here is the description of the evolution of the British policy towards the retail sector. This researcher found empirical evidences that will serve as sources for the manner by which the retail industry and the governmental policy trends will be analyzed and compared across time periods. There is now a call for more research on the retail markets and this study is our answer to it, with our specific emphasis to the regulatory regime and the protectionist measures undertaken by the...
10 Pages(2500 words)Dissertation
Competency based HR Activities&8207 in Oman Private sector
...? Research Proposal “Competency-based HRM Activities in Oman’s Private Sector” Contents Introduction Background Challenges Competency-based training Research Aims Purpose of Study Literature Review Methodology Data Collection Method Analysis of Findings Conclusion References Title Competency-based Human Resource Activities in Oman’s Private Sector Introduction Background Human resource development (HRD) has gained increasing prominence in the development agenda of the Sultanate of Oman. This has intensified with the need for Omanisation. Of great concern to the government of Oman is the need for a well trained, highly skilled and competent labour force. With projections of growth...
8 Pages(2000 words)Dissertation
Effect of Credit Crunch on Banking Sector in the UK
...would lead to the review of the past research papers. Literature review has been followed by the evidences and evaluation where the data collected through interview method has been analysed. To bridge the gap between the findings of the literature review and the evidences, a thorough discussion has been undertaken. Eventually, the ultimate conclusion has been drawn from the discussion. It has been determined that during the period from mid 2007 to mid 2009, the performance of the UK banking sector had declined and the main reason behind it was the negligence of the management in the lending process. Table of Contents Abstract 2 Introduction 5 General Statement 5 Specific...
19 Pages(4750 words)Dissertation
Is the private sector creating sustainable housing developments within the UK
...?Topic: Is the private sector creating sustainable housing developments within the UK? Sustainability Sustainability became a byword when the naturalconditions of the earth’s resources were seen to be depleting and policy-makers needed shorthand to encompass efforts at making the most of possible continuity of human existence. Sustainability is thus defined in various ways and for various means but the World Commission on Environment and Development defines sustainability as the ability to meet “the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987). Various methods are also employed to determine the needed approach for sustainability...
20 Pages(5000 words)Dissertation
The impacts of motivation on works and staff,which encourage employees to work in Saudi private sector
...of keeping the employee workforce motivated. It intends to assess the various factors that affect employee motivation and find out the ways in which motivation level can be improved. As noted earlier, there is littl evidence of research undertaken either on the causes of slow progress of the process of Saudization or to explore the internal human resource policies of private sector organizations that may be limiting employee motivation and retention. The gap in literature is expected to be filled by the current research as new insights about employee motivation in the specific context of Saudi Arabia are highlighted. In addition to enriching the literature, the research also informs the...
60 Pages(15000 words)Dissertation
The Recruitment in companies: A case study of a private-sector company in Saudi Arabia
..., and retains the qualified and competent workers. That being said, it is crucial for any company to address their employee turnover problems. At the moment, this issue is a major problem in Middle Eastern companies, including Saudi Arabia. However, research studies on the same, conducted in the same region, are scant. Nevertheless, it is clear that the problem is evident in the region, and is being experienced in both the private and the public sectors. It is common to encounter companies in the public sector who are experiencing problems with dissatisfied employees, despite being given attractive benefits. On the other hand, in private companies, employees...
60 Pages(15000 words)Dissertation
Sex related discrimination in the UK private sector
... In conclusion, this paper has explored various studies on gender equality and equal opportunities over the last few decades and across cultures. It has been found out that sexual discrimination against women is prevalent in different sectors in society, especially in the workplace resulting in pay and employment gap between men and women, sexual harassment and difficulties in career promotion experienced by women. With greater awareness of the public, and the better support from the government and private sectors in providing equal opportunities for both genders, there is hope for a better future of women in the workforce. Bibliography Aherne, A-M. (2003) “Women and Workplace Discrimination Trial.” [Online]. Available from: < http... ). If...
23 Pages(5750 words)Dissertation
Evaluating the human resource development in public and private sector IN Oman
...Evaluate the human resource development in public and private sector IN Oman 0 Introduction 1 The field of research The proposed research study is in the area of human resource management. Specifically, the study seeks to find various strategies and approaches put in place by both public and private sector institutions and organizations the Oman in developing the human resource of the human labour base in that country. Generally, the field of human resource development in Oman is not isolated. Rather, practices in human resource development are in consolidation with “human resource management practices in the Gulf Cooperation Council (GCC) countries and the emerging economies of...
6 Pages(1500 words)Dissertation
Public Sector Pay Cuts
4 Pages(1000 words)Essay
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 Dissertation on topic Pay for Performance:Complements or Substitutes Evidence from the UK private sector for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us