1
Performance Related Pay (PRP) is a standard reward system used across organisations
and sectors. Drawing on theories of motivation, critically evaluate the use of PRP in the
workplace.
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, 2
Performance Related Pay (PRP) is a standard reward system used across
organisations and sectors. Drawing on theories of motivation, critically evaluate the use
of PRP in the workplace.
Introduction
Employees are the more valuable assets of businesses; however, they are also the
most difficult to manage. Keeping your workers in constant motivation is keen for business
success (University of Pennsylvania, 2020). One technique to approach motivation is
Performance Related Pay, where employees are financially rewarded based on their
performance and objective achievement (CIPD, 2020). This technique has been used, since
the 1980s, successfully throughout the years; however, our society has evolved, new theories
of motivation have risen, and with the recent events of covid 19, the perspective of work has
changed.
PRP Effectiveness
PRP is an intrinsic technique that remunerates with bonuses and increases salary
(Tutor2u, s.f.) to encourage high-performance levels. In 2015, Hilcorp Energy Co. promised a
bonus of USD 100,000 for achieving their 5-year long-term objective by the end of that year.
The springtime did it. (Pulsinelli, 2015) This incentive worked as employees tried to work as
hard as they could to receive the compensation. This also resulted in a positive impact on the
commitment to the organization. However, based on the agency theory, it is argued that this
method motivates people to peruse the reward, not the job done.
Measurement
Performance-related pay can be measured through the number of rewards and salaries
that the companies offered their employees. This is vastly dependent on the motivating factor
Performance Related Pay (PRP) is a standard reward system used across organisations
and sectors. Drawing on theories of motivation, critically evaluate the use of PRP in the
workplace.
ACADEMIC WRITING & RESEARCH SERVICES
Professional | Original | Reliable
Academic Writing • Research & Analysis • Thesis & Dissertation Support
SERVICES OFFERED
Academic Writing
Research & Data Analysis
Thesis Writing Assistance
Dissertation Support
Assignment Help
Literature Reviews
Case Studies
Research Proposals
Editing & Proofreading
Referencing & Citations (APA, MLA, Harvard, Chicago)
Proctored exams
Why choose us?
High-Quality Work
Plagiarism-Free Content
Timely Delivery
Confidential & Professional
Well-Researched Academic Solutions
Contacts
Gmail:
WhatsApp: https://wa.me/254721933068?text=
Empowering Academic Success Through Professional Writing & Research Excellence
, 2
Performance Related Pay (PRP) is a standard reward system used across
organisations and sectors. Drawing on theories of motivation, critically evaluate the use
of PRP in the workplace.
Introduction
Employees are the more valuable assets of businesses; however, they are also the
most difficult to manage. Keeping your workers in constant motivation is keen for business
success (University of Pennsylvania, 2020). One technique to approach motivation is
Performance Related Pay, where employees are financially rewarded based on their
performance and objective achievement (CIPD, 2020). This technique has been used, since
the 1980s, successfully throughout the years; however, our society has evolved, new theories
of motivation have risen, and with the recent events of covid 19, the perspective of work has
changed.
PRP Effectiveness
PRP is an intrinsic technique that remunerates with bonuses and increases salary
(Tutor2u, s.f.) to encourage high-performance levels. In 2015, Hilcorp Energy Co. promised a
bonus of USD 100,000 for achieving their 5-year long-term objective by the end of that year.
The springtime did it. (Pulsinelli, 2015) This incentive worked as employees tried to work as
hard as they could to receive the compensation. This also resulted in a positive impact on the
commitment to the organization. However, based on the agency theory, it is argued that this
method motivates people to peruse the reward, not the job done.
Measurement
Performance-related pay can be measured through the number of rewards and salaries
that the companies offered their employees. This is vastly dependent on the motivating factor
