Pay For Performance Reward System Principles

Provided by: OpEx Consulting Group
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Format: PDF
Reward systems are important strategic tools to motivate employees and define specific goals for them. These systems envisage the concept of incentives and pay driven by actual performance by employees. Designing a successful reward system entails consideration of several important factors. An overlook of these factors causes many well-intentioned systems to fail. The paper examines basic principles to keep in mind when designing the reward mechanism.

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