Abstract
Linking pay with performance is commonly referred as performance-related pay (PRP). It is one of the most preferred pay technique followed worldwide in all sectors for attracting, motivating and retaining talent. Central public sector enterprises (CPSEs) in India have recognised the need for building a performance-oriented culture in order to survive and sustain competition. A concrete step in this direction was to integrate performance and compensation management system through the implementation of performance-related pay concept. The implementation of PRP is expected to help CPSEs to attract, motivate and retain talent by bringing CPSEs compensation at par with its competitors in private sector. PRP has been made an integral part of CPSEs pay package through the implementation of latest pay revision for the Indian CPSEs. In the given context, it is important to study executive's perception towards PRP and also to understand the real challenges in the implementation of PRP process.
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