We design both new performance related pay schemes and revisions to existing schemes following a review of their effectiveness.
From experience we have found that the credibility and effectiveness of such schemes is heavily dependent on the following:
A robust performance management process
Managers who provide open and honest feedback on performance and
are prepared to differentiate between people based on performance
Therefore our work on performance related pay is often concerned with addressing these issues in advance of any specific design of performance related pay schemes themselves.