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The Importance Of Performance-Related Pay

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Performance-related pay has adopted in business for a long time, which means wages paid-related how well employee did. This strategy was on the basis of the Principe-agent theory that individual performance evaluation determined compensation. Pay for performance has worked in a specific period that people need money to satisfy rudimentary demand for daily life. With the economic developing, money is not only standard for work any more. Employees need multiple motivated methods of improving working interests and the factors of motivation become flexible. This essay is argued that wage is not only way to motivate employees.

According to Bulletined, “workplace motivators include both monetary and non-monetary incentives” (Bulletined 2002). Actually, …show more content…
"Motivate Employees?" viewed 15 Aug 2015

Johnson, R, “what are the benefits of effective communication in the workplace”, Demand media, viewed in 21 Aug 2015 http://smallbusiness.chron.com/benefits-effective-communication-workplace-20198.html John, N 1987, “the leader management “, viewed 22 Aug 2015.

Lawler, E 1992, “The ultimate advantage: Creating the high-involvement organization”. Josses-Bass Inc Press.

Lazear, E 1996, “Performance and productivity”, National bureau of economic research, Cambridge, MA 02138.

Lazear, E 1998, “Personnel Economics for Managers.” New York: John Wiley and Sons

Lombardo, J, “Workplace communication: importance, strategies, and examples” viewed 20 Aug 2015 http://study.com/academy/lesson/workplace-communication-importance-strategies-examples.html Richard L,” what are the benefits of employee empowerment” http://smallbusiness.chron.com/benefits-employee-empowerment-1177.html Rosen, S 1986, “Prizes and Incentives in Elimination Tournaments”, American Economic Review, p76, no.

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