Compensation Management in Indian Central Public Sector Enterprises: Towards Performance Related Pay
Published: 2013
Author(s) Name: Punam Singh |
Author(s) Affiliation: Punam Singh is Asst Prof, Institute of Public Enterprise, Hyderabad, India
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Abstract
Central Public Sector Enterprises in India have
realized the importance of attracting, motivating and
retaining talent and hence are bring in massive change
in its attitude towards managing people. CPSEs are
geared up to establish a performance oriented culture
by making their compensation competitive and by
integrating performance and compensation
management systems in their organizations. The latest
2nd pay revision for CPSEs in India calls for an
implementation of the concept of Cost to Company,
performance related pay (PRP), Performance
management system and cafeteria type benefit plan.
The paper attempts to study the steps taken by CPSEs
in the context of 2nd pay revision in terms of establish
of transparent and robust Performance Management
System. It also tries to explore the link of various
motivational theories and its implication to PRP. The
paper also highlights the determinants of PRP in
CPSEs and the challenges before CPSEs.
Keywords: Central Public Sector Enterprises, India, Performance Management System, Performance Related Pay
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