Measuring and Paying for Performance

Paper Summary:

This paper examines how experience, research and analysis of the corporate world and its practices reveal that paying for performance systems are crucial to the success of an organization and are essential for a constant development of its workforce. It looks at how paying for performance is relatively a new term when compared to "performance appraisal" though both terms can be used interchangeably and have similar meaning in the corporate world.

Outline
Overview of the Topic Under Discussion
Historical Overview of Paying for Performance Pages
Recent Developments in the Related Field Pages
Future Direction and Application Pages
Conclusion Pages

From the Paper:

"Though pricing strategies still play a vital role in the competitive corporate world, with recent changes, customer satisfaction and product innovation as well as product quality "are the primary determinant of profitability" (Nourayi & Daroca, 1996, p.206 (12)). Hence "product-oriented manufacturing cells" are replacing "process-oriented operations" (Nourayi & Daroca, 1996, p.206 (12)). Minimization of wastes is today directly connected with profit maximization. Therefore, with success factors being controlled by consumers, administration as well as management at all levels need to identify and consolidate "the market signals" in an expedient performance measurement and review procedure or system. Thus, these new positive amendments in the existing market trends bring forward the role of performance measurement system in determining the success of the overall organization while accomplishing the set of objectives outlined by the management for the employees to follow in letter and spirit."

More papers on Measuring and Paying for Performance:

• Research Proposal # 58845 : "Pay for Performance"
• Comparison Essay # 113438 : "Merit Pay and Automatic Pay"
• Research Paper # 65102 : "Merger and Acquisitions"

APA Citation:

MLA Citation: