Abstract
Performance Related Pay (PRP) refers to the variable part of pay which is awarded each year (or on any other periodic basis) depending on the performance. Perofrmance Related Pay may be paid to an individual or a team or group. PRP relates to payment linked to a measure of individual, group or organizational performance. PRP could also be expressed with relevant organization performance objectives in several ways. The primary aim of this paper is to assess the implication of PRP in companies. This paper uses secondary data to empirically examine the impact of PRP in Steel Industry. Since Steel Authority of India Ltd. (SAIL) occupies an important place in the public sector undertakings, therefore this undertaking has been selected in order to bring to light the current practices prevailing in the steel industry. This study uses PRP Analysis to test its effectivity and simultaneously aims to assess the applicability of this analysis in the Steel sector. KEYWORDS: Performance Related Pay, PRP; Performance , Appraisal, Salary, Steel Industry
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