Question

Describe the implementions of designing pay for organization performance

Answer 1

Answer:

Designing pay for organization performance is a very good way to increase the productivity of the organization.

There are 8 steps in the implementation of Designing pay for organization performance. These are as follows:

Step One: Determine requirements: The small companies tend to have a lack of resources and infrastructure but they can determine the need to compnaiy more already in comparison to the larger companies.

Step Two:

Determining the matrics: initiate with few matrics and expand it further.

Step three:

Setting the goals: SMART goals are very important for both small and large-sized companies. Therefore, companies must set SMART goals that can impact the strategic objectives of the company.

Step Four:

monitor progress: It is very important for small and large companies to track their growth and progress. however, for small companies, it is always better to have quick monthly or weekly checks on the growth and progress of the company.

Step Five:

Communication achievement: It is very important for any company to allow communication between employees and serious management.

Step six:

give reward: companies should reward its employees for better performance.

Step seven:

evolve and evaluate: always try to improve the performance each year and try to ensure that the performance process is appropriate to the culture.

step eight: Initiate over quickly: Don't allow employees to stop and delay between the performance cycles. Try to engage them throughout the year.