GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Performance-based compensation is more popular in the United States than it is in Japan or Germany.
Detailed explanation-2: -Implementing a pay-for-performance compensation model in your workplace can increase motivation and productivity amongst employees. In this model, they receive more pay when they meet or exceed performance goals set by managers or the company.
Detailed explanation-3: -Performance-related pay (PRP) is a way of managing pay by linking salary progression to an assessment of individual performance, usually measured against pre-agreed objectives. This factsheet explores the justification for linking pay and performance as well as the potential issues around implementing PRP schemes.
Detailed explanation-4: -What is performance based pay? Performance based pay is a type of employee compensation that gives monetary rewards to those workers who go the extra mile and perform exceptionally well in their job.