FRROEMANC RELATED PAY ExERCISE $300$ persons buring this five $(5)$ year period, they have given $($wo$,(2)$ salary increaves based on correlating thorese in service, individeal productivity and individual overall performance fiuctuates frem year to year. There are no set of employees that can really be eategorived as top pertormers.

$\backslash$table$[[$Salary Grade,Snlert Ratigies,$\backslash$table$[[$Positions$]]],[$Grade $3,21,$son$=36,dt,\backslash$table$[[$Receptionist $(1)21,600],[$Accounts Clerk $(2)25,200],[$Adinin Assistant $(2)32,000]]],[$Grade $2,34,000=43050,\backslash$table$[[$Accotnis Aast $(2)34,800],[$Client Service Rep $(2)37,300],[$Erecutive Aasistant $(2)42,000]]],[$Grade $3,45,000-40,\backslash$table$[[$Corporate Secretary $(1)4,000],[$Legal Officer $(1)60,000],[$Client Service Manager $(1)],[75,000]]],[$Grade $4,75,000-130,000,\backslash$table$[[$CFO $(1)99,000],[$CEO $(1)115,000]]]]$

They have hired your team to provide advice on how they should move forward.

Explain what is PRP and how it functions

Discuss two pros and cons of performance related pay

Recommend with justification a PRP guideline for PEPS

Calculate the midpoint for salary ranges Grade $1$ & Grade $4$

Calculate the comparative ratio for the following:

Accounts Clerk

Legal Officer

Provide guidelines for their consideration for implementing the PRP system.