Amajorpartofperformancemanagementinvolvesmanagingemployeesandmanagers,as their performance will have a major effect on the performance of the organisation as a whole.Reward
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Question:
Amajorpartofperformancemanagementinvolvesmanagingemployeesandmanagers,as
their performance will have a major effect on the performance of the organisation as a whole.Reward system refers to all the monetary, non-monetary and psychological payments that anorganisation provides for its employees in exchange for the work they perform. However,designingsuchreward systems iscomplex,astheyaimtoinfluencehuman behaviour.
Required:
- DiscussTHREE(3)outcomesthatmayarisefromawell-designedrewardssysteminabusiness organisation.
(15marks)
2.Explainthedifferencebetweenthegroupperformancerewardschemeandindividualperformancereward schemeastoupholdthemotivation ofteammembers.
(10marks)
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