Strategic Human Resource Management

Strategic Human
Resource Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Introduction to Individual Performance Related Pay (IPRP).................................................3
Critically evaluate the extent to which Individual Performance Related Pay (IPRP) can
stimulate higher levels of performance from employees.......................................................4
Considering the circumstances in which employees are motivated and those in which they are
not with relation to Individual Performance Related Pay (IPRP)..........................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Human resource is a holistic term used for referring towards the people of a company
working in it and conducting the operations. The human resource is also addressed as workforce,
labour force, personnels, employees, workers and with other such synonyms referring to people
who are executing all the theoretical plans of management in the real practical scenarios and
working for gaining the pre determined results by fulfilling aims and objectives (Aktar and
Pangil, 2018). The essay is developed on Waitrose a British brand which is offering grocery
products by supermarkets and known to be largest employee owned retailing company. Waitrose
was founded in 1904 and it is located in London, United Kingdom. The essay acknowledges the
extent of performances standards of employees of company is related with IPRP a unique
payment system. Along with it, the essay covers the circumstances in which this system keeps
people motivated and in which it negatively affects them by evaluating few related factors.
MAIN BODY
Introduction to Individual Performance Related Pay (IPRP).
Individual Performance Related Pay (IPRP) or Performance Related Pay (PRP) is a
phenomena and a way by which human resource management team manages the payroll of staff
member by linking their salary progression with their performances and their contribution made
to the company in its goals. The performance related pay is aligned with the standards of
performances rendered by employees for completing the given tasks and these are most
commonly measures against pre agreed objectives and factors. It is said that Individual
Performance Related Pay (IPRP) is a heterogeneous approach which has many variations under
its head such as payment by output, merit based or merit selective bonuses and many other
(Boella and Goss-Turner, 2019).
Organisations with huge workforce applies Individual Performance Related Pay (IPRP)
phenomena for number of reasons and the most important one is to manage the relationship
between the level of performances employees are rendering to company with their rewards and
all the other extra benefits. This approach is used by management and human resource
department of organisations for multiple aspects but talent management and employee
motivation is the major factor which is considered. The Individual Performance Related Pay