Pay for performance scheme can take different forms, in addition to the linear one mentioned above....

Pay for performance scheme can take different forms, in addition to the linear one mentioned above. Show graphically other commonly observed pay-performance relationships. Base your answer on the following schemes:

1 - Bonus with floor/quota;

2 - Penalty;

3 - Lump-sum,

4 - Promotion or demotion;

5 - Bonus with cap

Explain in detail how each of these schemes work, and which one you would prefer if you were a manager of a firm, and why.

Expert Solution

if I m a Manger in firm, bonus and promotion is best method to motivate employee

Bonus is for for achieving particular target of firm, and for short time period where promotion is permanently, promotion increase employee status, skills, responsibilities as well as salary

Rahul Sunny answered 2 years ago

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