Merit pay retains its popularity
Merit pay remains the most frequently used contingent pay practice, according to a survey by pay analysts IRS.
The proportion of survey respondents using this approach now stands at 68.7%, marginally higher than last year's figure of 67.1%. The payment of a cash bonus to employees is the second most popular performance pay tool, used by 57.9% of survey respondents.
Other key survey results
Want to know more?
Title: "Pay prospects survey", IRS Employment Review 811/Pay and Benefits, 12 November 2004.
Methodology: Data was gathered by a postal questionnaire mailed to IRS subscribers and non-subscribers in September 2004.
Survey sample: The survey is based on information received from 297 private sector organisations in the UK employing 908,000 employees.
Availability: To purchase this six-page survey contact the subscriptions department at IRS in London, tel: 020 8686 9141 or visit www.irsemploymentreview.com
Posted 19 November 2004