... to payment by result and time, it will be necessary to define what these are and to briefly explain their historical context and relevance. Within the constraints of this essay it will not be possible to fully reflect or evaluate the vast amount of literature that exists in relation to merit or PRP schemes. However a comparison should be possible by referring to some of the organisational and employee affects associated with these newer payment methods. It will be shown that there are various factors which determine the success or otherwise of using merit or performance related pay. Finally, taking account of the evidence cited, conclusions will follow that there is not one universally accepted payment method which organisations can employ to gaurentee maximum employee effort and organisational effectiveness. While merit and performance related pay systems may appear, in theory, to exhibit some advantages over time and result based methods such ...

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