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13-Feb-08 10:08 [Pay and Reward]
Private sector embraces performance-related pay Employers within the private sector are increasingly "linking pay to performance", according to one expert.
Marion Seguret, senior policy adviser at the Confederation of British Industry (CBI), said that such steps are taken to offer rewards to staff and produce better results.
"This means they do not set standard increases, preferring to make use of performance review processes and to benchmark locally," Ms Seguret stated.
According to the expert, research by the CBI revealed that 27 per cent of employers believe such reward packages, such as performance-related pay, are an integral part of developing a "competitive advantage".
A further 28 per cent claimed that it would be an "important influence" in five years' time, she added.
The CBI aims to help develop an environment within the UK in which businesses can "compete and prosper".
It has a network of offices across the UK and in a number of cities around the world, and claims to be the "premier" lobbying group for businesses in Britain.
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