Asked by Daniela Guzman on Jul 02, 2024
Verified
For performance based-reward systems to work,leaders should ask employees what they value.
Performance Based-Reward Systems
Reward mechanisms that tie compensation or recognition to the achievement of specific performance criteria, intended to motivate and incentivize high levels of performance.
- Evaluate the effect of performance-driven remuneration schemes on the behavior of staff members.
- Appreciate the necessity of synchronizing compensation with staff achievements and company performance.
Verified Answer
ZK
Zybrea KnightJul 02, 2024
Final Answer :
True
Explanation :
It is important for leaders to understand what their employees value to design a performance-based reward system that motivates and incentivizes them. Employees may value recognition, autonomy, flexible work hours, or opportunities for growth and development. Conducting surveys or focus groups to gather information on what employees value can help leaders design a more effective reward system.
Learning Objectives
- Evaluate the effect of performance-driven remuneration schemes on the behavior of staff members.
- Appreciate the necessity of synchronizing compensation with staff achievements and company performance.
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