Every penny of the paybill has to be spent effectively in the current economic climate, and understanding what your peers are doing is an essential part of ensuring that you can adopt and adapt best practices to your own needs.
CELRE is inviting you to take part in the IRS performance-related pay survey, as a way of sharing knowledge and finding out about the benefits and pitfalls of paying for performance.
Both CELRE and IRS have lengthy experience of conducting high-quality research on pay issues, and both now work together under the XpertHR umbrella. This is a named practice survey. Our research is ethical. It is a genuine research project being conducted by IRS, an employment research organisation set up more than 30 years ago.
The survey findings will be used in a published report and everyone taking part in the survey will receive a free copy as soon as it is finalised.
Please contact Sarah Welfare on 020 8652 2249 (direct line) if you have any questions regarding this research.
Definition: Performance-related pay schemes award pay increases, usually on an annual basis, to employees wholly or partially on the basis of their individual performance. Individual performance may be judged on a number of factors which can include performance appraisals, competencies, and input from managers.
Merit pay is another term used to describe performance-related pay.
Performance-related pay will usually include some notion of targets but, for the purposes of this survey, does not include bonus and commission schemes since these are typically paid in addition to any annual pay awards that may be determined through an individual performance-related pay scheme.
Pay freezes: Many organisations are currently freezing or cutting pay and this will inevitably impact on some performance-related pay awards. However, please do complete this survey if you organisation operates a performance-related pay scheme - regardless of the level of award set or envisaged for this year.
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