Job Satisfaction and Pay for Performance (P4P)

Abstract

The ultimate purpose behind the P4P concept is to establish a direct relation between an employee's job performance and the payment he/she will be receiving for that. As we all know that "As you sow so shall you reap" is the main crux for the pay for performance. Many organizations also give the extra perks and facilities for the extra work done like extra vacation etc. In today's scenario the cost of incentive we are paying and the higher performance results they are giving are in the same side but if we go on the downside, this is also an big issue that in many organizations people are not satisfied by the pay for performance or the incentive they are receiving or the increased monetary reward they are received yet because it is not up to mark according to them. In this empirical research we gather the data to analyze the impact of pay for performance on the Job Satisfaction and the target leads the whole population of private employee serving at the private bank and is declared to be a closed sample including 200 researchers. Further scope of the study reveals the other demographic factors which affect the pay for performance.