Question

what is merit pay and identity and sescribe traditional methods used..

Merit pay in the Philippines
what are the traditional methods used or measurement in merit pay

Answer 1

The wage for merit, also referred to as pay for performance, is a pay increase based on a set of requirements specified by the employer. For general, the boss holds a review conference with the employee to assess his or her work performance over a period of time.

As its GDP increased 6.5 per cent in the second quarter 2017, the Philippines is still amongst Asia Pacific's most successful economies. This result is well on the way to achieving the full-year target rate of growth of 6.5% to 7.5%. Increased household consumption, high consumer confidence, overseas payments and improved working conditions are the major drivers for this development. In the first quarter of 2017, government spending on infrastructure also increased and contributed to this growth. To attract investors and sustain competitiveness among ASEAN countries, Philippines must enhance its business environment. The country also has much to do to provide adequate infrastructure, particularly for transport and the metropolis' road network that affects the productivity of business and employees. The average wage growth is expected to hit 6.3 percent in the Philippines in 2018. The fast-moving consumer goods, oil and life science firms have an ambitious 6.5%-6.7% growth in wage allocation slightly higher. Compared to new industries, such as shared services and Business Process Outsourcing (BPO), traditional industry, such as oil, customers and pharmaceuticals tend to pay more.

Method:

Step 1: Prepare for distribution across the matrix of employees. Leistung and position-in-range are the two variables most used in a merit matrix.

Step 2: Mean Performance Rating Determination.

Step 3: Construct the payment scheme.

Step 4: Cost

Step 5: Control and review