Question: Pay for performance can be defined as a financial reward system for employees where some or all of their monetary compensation is related to how

Pay for performance can be defined as a financial reward system for employees where some or all of their monetary compensation is related to how their performance is assessed relative to stated criteria, namely KPIs and Competency Behaviors. Performance-related pay can be used in a business context for how an individual, a team or the entire company performs during a given time frame. Discuss Five (5) advantages of pay for performance. (Total: 6 Marks)

Course

COMPENSATION MANAGEMENT

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