Reward Strategy in Performance Improvement
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Questions and Answers

What is the primary goal of achieving an equitable and definable pay system?

  • To improve employee morale
  • To reduce labor costs
  • To create a competitive advantage
  • To ensure fairness and consistency in compensation (correct)
  • Which of the following is a key element of a reward strategy?

  • Involvement of employees in reward matters (correct)
  • Annual bonuses
  • Employee involvement in performance management
  • Regular performance evaluations
  • What is the primary purpose of using pay as a lever for performance improvement and culture change?

  • To drive business results and cultural transformation (correct)
  • To motivate employees to work harder
  • To reduce employee satisfaction
  • To increase employee turnover
  • What is a key benefit of developing teamwork in an organization?

    <p>Enhanced collaboration and productivity</p> Signup and view all the answers

    What is the primary goal of offering competitive pay?

    <p>To attract and retain top talent</p> Signup and view all the answers

    Study Notes

    Reward Strategy

    • Aims to achieve an equitable and definable pay system
    • Uses pay as a lever for performance improvement and culture change
    • Involves employees in reward matters to increase engagement and motivation
    • Focuses on developing teamwork and collaboration among employees

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    Description

    This quiz covers the objectives and strategies of a reward system that aims to enhance performance and culture in an organization. It involves employee engagement and motivation, focusing on teamwork and collaboration.

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