Can Performance Related Pay help improve productivity?
These are challenging times for both public and private sector organisations.
Many performance and reward teams are looking at the potential for some form of performance related pay to help improve productivity. We’ve been taking a fresh look at all the research and case study evidence to help answer questions about how variable pay options can be useful, and where they might cause more harm than good. The findings may surprise you!
In some situations, variable pay can be a useful lever to focus attention on what really matters. In other situations, you may be inadvertently encouraging one set of outcomes while hoping for a completely different set.
We’ve written a new white paper ‘Making Performance Related Pay work for you’, sharing what we’ve learned from the research and our experience. The paper is a great tool to kick start conversations with your team about using pay to drive performance and productivity. You can send for a copy here – firstname.lastname@example.org (available from 7th November) . Or join our upcoming webinar, when we will discuss the findings in more detail.