Performance-related pay
From Wikipedia, the free encyclopedia
Performance-related pay is money paid to someone relating to how well he or she works at the workplace. Car salesmen, production line workers etc. may be paid in this way or through commission.
Business theorist Frederick Winslow Taylor was a great supporter of this method of payment, which is often referred to as PRP. He believed money was the main incentive for increased productivity and introducing the widely used concept of 'piece work'.
 |
This economics or finance-related article is a stub. You can help Wikipedia by expanding it. |
