Disadvantage and Advantage of Individual Performance Related Pay Assignment

   

Added on  2020-10-22

10 Pages2476 Words341 Views
Disadvantage and Advantage of Individual Performance Related Pay Assignment_1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK....................................................................................................................................................31. Disadvantage and advantage of individual performance related pay...........................................32. How suitable is IPRP to business environment of hotel?.............................................................53. Barriers to effective design and implementation of IPRP scheme...............................................64. Different reward approaches which used to replace individual performance related pay scheme and why these work more effectively...............................................................................................6CONCLUSION...............................................................................................................................7REFERENCES.....................................................................................................................................7
Disadvantage and Advantage of Individual Performance Related Pay Assignment_2
Executive Summary In the recent time, business units are placing high level of emphasis on undertakingperformance related pay system. This report is based on Cavendish Hall Hotel which offersaccommodation facility to the customers. IPRP implies for the aspect of reward management whichfocuses on offering pay to the individuals on the basis of their performance. Such hotel unitprovides personnel with several rewards in the form of merit pay, standard hour plans etc with theaim to motivate them. It can be summarize from the report that Cavendish Hall Hotel canimplement the IPRP system in its operations so as to derive benefits of increased benefits with ease.It can be depicted from the evaluation that by taking feedback from personnel hotel unit can avoidbarriers identified.
Disadvantage and Advantage of Individual Performance Related Pay Assignment_3

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