What are some alternatives to individually based pay for

What are some alternatives to individually - based pay - for - performance?   

Solution

There are different alternatives that be used in place of the pay for performance method that is individualistic in nature. The first alternative is a broadband method where the different bands or salary slabs are created. Each salary slab or band has minimum and maximum base pay. For each particular profile such as manager, deputy manager and supervisors, different salary bands are applied.
The second alternative is the skill based payment system that also considers the knowledge level of the employees. It means that the employees with a similar level of skills and knowledge will have the similar salary. It may bring dissatisfaction among those who are better performing employees, but getting the same salary to those who are less performing.
The third alternative is the profit sharing or gain sharing method where the profits or gains earned by the department or the organization are shared among the employees. This method can be clubbed together with the base payment so that employees are encouraged to deliver their best performance.