Performance linked pay

IIPM PUBLICATION

If you thought that was all, hang on... When it comes to the development of employees and their salary revisions, here’s what the functional leaders say — “Connection between employee cost and return on investment is important,” says Aquil Busrai. Furthering the discussion, G. K. Agarwal, Director (HR), NTPC adds, “Companies need to develop explicit linkages of payouts by matching the rewards with levels of performance.” What these leaders are specifically pointing towards is that when it comes to rewarding employees for their performances, there is a sharp differential within the same skill set. Therefore, as return on investment on each employee drives their salary revision and rewards process, and even as companies focus on optimal costs, the HR function needs to develop complex systems to measure the performance of each employee accurately, which is also possible by implementing an HRIS.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)