Explain the group performance reward scheme

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Question - A major part of performance management involves managing employees and managers, 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 an organisation provides for its employees in exchange for the work they perform. However, designing such reward systems is complex, as they aim to influence human behaviour.

Required -

1. Discuss THREE (3) outcomes that may arise from a well-designed rewards system in a business organisation.

2. Explain the difference between the group performance reward scheme and individual performance reward scheme as to uphold the motivation of team members.

Reference no: EM133176074

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