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Pay-for-Performance (Disadvantages (Contention among Employees, Resistance…
Pay-for-Performance
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Definition
Pays the most performing employees significantly differently, includes special compensation schemes for the selected groups of employees and gives career opportunities to the best talents in the organization.
Objectives
- Recruit and retain the highest quality employees-
- Communicate and reinforce the values, goals and objectives of the company
- Engage employees in the organization's success
- Reward contributors for successful achievements