WHO BENEFITS FROM PERFORMANCE-RELATED PAY MODEL?
Both employers and employees benefit from performance-related pay model.
Employees know what is expected of them and in what ways they can meet or exceed the desired targets. Employees pay is based on their performance.
Employees are stimulated to achieve performance targets, they are challenged to develop 'growth mindset' and in the process they become more satisfied with their work.
Managers monitor and enhance task accomplishment and pay work on the basis of performance.
Company business system receives a system solution for raeligning business plans, work performance, revenue and emloyees' behaviour.
Business owners have guarantee that they pay only for the work that is in alignment with corporate goals.
On a wider scale, satisfied employees spread the sense of contentment and fulfillment throughout the community.
Performance-related pay system starts giving positive results in the first month of its implementation.