Review:
Pay For Performance Model
overall review score: 4.5
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score is between 0 and 5
The pay-for-performance model is a compensation strategy where employees are paid based on their performance or productivity.
Key Features
- Rewards based on individual performance
- Motivates employees to work harder
- Clear criteria for measuring performance
- Can lead to increased productivity
Pros
- Incentivizes high performance
- Encourages goal setting and achievement
- Can result in cost savings for employers
Cons
- May create competition among employees
- Can lead to stress or burnout if not managed effectively
- Difficulties in accurately measuring performance for certain roles