hey people,
Im doing my MBA and currently pursuing my summer training in a Public Sector bank. The project being "differential Pay- Linked to performance".
Normally PSU banks have a very structured pay scale wherein every employee gets paid according to these scales. There is no differentiation in the compensation of the employees regardless of their performance. A performer as well as a non performer is paid the same. But with the recent autonomy given by government some large PSU banks can go in for a differential pay system but within the pay scale. Now my Bank wants me to study the Differential pay existing in companies and inturn develop a model for them.
Ive targeted a few private organisations and some private sector banks. but it is very difficult to get information regarding the existing differential pay systems especially in private banks. :roll:
Simultaneously ive studied the current performance appraisal system in my Bank and keeping in mind the their Appraisal system constraints ive decided to develop a model only for the branch heads as they have quantifiable business targets and specific KRA's. Likewisely ive started collecting data from some branch heads about their views and what would they want to incorporate in a differential pay system.
just want opinion if my approach is right and if any ideas how do i get information about performance linked pay system at private banks..
thank you
-anjali
Im doing my MBA and currently pursuing my summer training in a Public Sector bank. The project being "differential Pay- Linked to performance".
Normally PSU banks have a very structured pay scale wherein every employee gets paid according to these scales. There is no differentiation in the compensation of the employees regardless of their performance. A performer as well as a non performer is paid the same. But with the recent autonomy given by government some large PSU banks can go in for a differential pay system but within the pay scale. Now my Bank wants me to study the Differential pay existing in companies and inturn develop a model for them.
Ive targeted a few private organisations and some private sector banks. but it is very difficult to get information regarding the existing differential pay systems especially in private banks. :roll:
Simultaneously ive studied the current performance appraisal system in my Bank and keeping in mind the their Appraisal system constraints ive decided to develop a model only for the branch heads as they have quantifiable business targets and specific KRA's. Likewisely ive started collecting data from some branch heads about their views and what would they want to incorporate in a differential pay system.
just want opinion if my approach is right and if any ideas how do i get information about performance linked pay system at private banks..
thank you
-anjali