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• W2600610789 endingPage "140" @default.
• W2600610789 startingPage "91" @default.
• W2600610789 abstract "Abstract I provide an overview of key developments in the literature on incentive pay and, more broadly, pay for performance (PFP) in workplace settings. These include the shift from a focus on pay level to an increased interest in PFP in economics and management, versus a decreasing interest in PFP and/or increased skepticism about the effectiveness of PFP in psychology. One part of the explanation for differing views on PFP may be that PFP, as actually used in workplace settings, differs from the type of PFP still mostly studied (individual incentive plans that use a formula to determine incentive payouts based on individual physical output) in psychology and, to a lesser extent, in economics. In work organizations, subjective assessments (ratings) and (often multiple) organization level measures of performance (e.g., revenues, profits) are commonly used as the basis for PFP payouts. We describe research on the use and effectiveness of both types of PFP plans with a particular emphasis on merit pay plans, which rely on subjective assessments of performance, given their wide use. We suggest that the types of PFP programs that are more common in US workplaces are less likely to suffer from the drawbacks of incentive pay (defined as individual incentive plans) often identified. Finally, we suggest how future research might better inform our understanding of PFP as used in the workplace." @default.
• W2600610789 created "2017-04-07" @default.
• W2600610789 creator A5069927768 @default.
• W2600610789 date "2017-01-01" @default.
• W2600610789 modified "2023-10-13" @default.
• W2600610789 title "Incentives and Pay for Performance in the Workplace" @default.
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