What is merit
pay
- It is pay-for-performance
- It is defined as a raise in pay based on a set of criteria set
by the employer
- It is paid on the basis of the achievement of targets by an
individual
- It involves the employer conducting a review meeting
with the employee to discuss the employee's work performance during
a certain time period.
Do you think
it's a good idea to award employees merit raises? Why or Why
not?
Yes, it's a good idea to award employees merit raises,
because-
- Employees work hard for an year to deserve merit pay
- Merit pay is purely based on performance, so the achiever gets
it
- Employees feel motivated by merit pay
- Merit pay ensure a high productivity in company