Meyners + Company, a US Accounting and Consulting firm, introduced Pay for Performance to aid its efforts to retain staff. The previous compensation system involved a percentage increase applied to an individual’s salary annually. Under the Pay for Performance scheme staff made an annual "promise" and were rewarded under various bonus mechanisms on the basis of how well the "promise" was delivered. Bonus payments were on top of an annual Cost of Living Allowance (COLA) which every staff member...

BPIR Categories

9.5.4 Develop & manage base & variable compensation
9.5.5 Manage reward & recognition programs

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