How can reward systems be designed for team or group projects and still recognize individual effort?
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Critically review the following:
- How can reward systems be designed for team or group projects and still recognize individual effort?
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- Discuss which of the three approaches to internal reward alignment your organization, or an organization you’re familiar with, uses to determine job valuation.Do you think that method is the most effective? How might the job valuation in this company differ if a different method was used?.. How do the interplay of individual performance dynamics and organizational performance metrics influence the strategic formulation and implementation of reward systems within an organizational context?Identify the major bases of reward distribution. How does money influence employee motivation? Discuss the relative merits of individual and group incentive programs. Describe the benefits and drawbacks of several of the new approaches to reward systems. Which ones do you feel would be most effective in work organizations?
- Employee retention for talented and potential employees is critical for organizational performance. Choose at least two (2) theories of reward management and explain its application in retain employeesWhat are the objectives of the MBO? What do you think might be its disadvantage?8. How may rewards be classified?
- Identify the major bases of reward distribution?Reward folly is a concept that refers to how organisations expect or hope for a certain kind of behaviour while reward for a different type of behavior. An example from my organization to better understand this would be- Our company divided us into groups and then formed teams by assigning different projects to different teams. The company expected us to work as a team and help each other by sharing ideas and collaborating witj each other. But at the end of the project term, the company management decided to pick the best team members in order to reward them for their exceptional contributions. This right here is an example of reward folly because on one hand our company expected us to move forwards as a team and on the other hand the company itself was creating a division between us by choosing the best performers rather than rewarding the whole team for the effort. Final answer Final answer - Reward folly is a very common concept that has been practiced by organisations for a very…