Pay-for-Performance
Pay-for-Performance is a compensation model where employees receive financial rewards based on their job performance. This approach aims to motivate workers to achieve specific goals, improve productivity, and enhance overall company performance. The rewards can come in various forms, such as bonuses, salary increases, or other incentives.
In this system, performance is typically measured through metrics like sales figures, customer satisfaction, or project completion rates. By linking pay to performance, organizations encourage employees to excel in their roles, fostering a culture of accountability and continuous improvement.