You are hired by the Fair Work Commission Australia as a consultant to examine issues relating to pay and performance. Your task is to provide a report detailing findings from the economic literature on the effectiveness of pay for performance initiatives in generating improved outputs (or business outcomes), how performance should be evaluated and key ideas on establishing incentive pay and related evaluation frameworks for the organisation.
* Section A: Background of the organization Fair Work Commission Australia (check its website) to get some general background about this Australia governmental agency - confined to 250 words or less.
Write about its objectives, goals and basic functions. And of course the purpose and reason of producing this report. (remember that you are engaged by this agent to produce the report.)
* Section B and with sub-sections like B.1, B.2 and so on: on literature review on key concepts and theories relating to Labor Supply, Efficiency Wage Theory, Pay - Performance Structure, general Labor Supply & Demand. This requires rigorous references of research articles, news paper write out and also those articles (especially UC's paper on Efficiency Wage Theory) posted at LMS. Key concepts are found in Topics 6 of lecture supplement notes. (Preferable 1000 to 1300 words)
* Section C and with sub-sections like C.1, C.2 and so on: relate those key concepts discussed in section B that can be applicable to a specific firm, case or situation (preferably in Singapore context) and discuss how these concepts can be used here and some issues (some usefulness as well as some possible problems) can be encountered while implementing a Pay Performance structure based on the conceptual framework proposed here. (preferably 600 to 900 words)
* Section D: a brief recommendations and comments (200 to 300 words)
* Conclusion (about 200 words)