Knowledge Knibbles: Performance Related Pay
It is a no-brainer that if you link employee performance to pay you will improve organisational results. Or is it? There is plenty of research that says that PRP works in some circumstances and not others, and with some groups and not others. Moreover, the mechanism used (individual or team), the mode of payment (bonus or merit increase) and method of assessment used (target, ranking or rating) all affect how well PRP delivers.
IES has the research knowledge to brief you on what works and the practical experience to translate the theory into practice. We know what the technical remuneration options are, but we can frame them in the context of the organisational need.
This session is your chance to think about how to introduce PRP or to modify it if you already have it in the light of the evidence of what works. We will propose that your reward strategy focuses both on business need and employee preference. We will suggest that a segmented approach to performance pay is most likely to yield results and we will look at how the different components of performance (outputs or inputs like competence, skill or behaviour) might be handled. The pros and cons of assessment and payment methods will also be set out.
If you are about to change your reward system we will also advise on the process steps you should take in order to give your organisation the best chance of success.
What you will get
- an understanding of the different forms of PRP
- how PRP works for different occupational groups
- how to structure performance pay in the light of this knowledge
- how to deal with challenges likely to be faced in operating PRP
- 90 minutes
- up to 20 participants
- at your offices
Price per session
|Non-members of the IES HR Network||£820 + expenses (excl. VAT)|
|Members of the IES HR Network||Three Knowledge Knibbles are included in the HR Team module, or sessions can be bought at a 20% discount.|
Professor Stephen Bevan
For more information or to book a Knowledge Knibble, please get in touch to discuss your requirements with us.
Email: Emma Stewart-Rigby
Call: 01273 763433