I’m studying and need help with a Management question to help me learn.
Evaluate methods and systems for rewarding and compensating teams.
As a leader, you have been tasked with building a team whose purpose is to recommend a new performance evaluation system. The current system is outdated and greatly reduces employee morale each year.
As the leader of this problem-solving team, you are tasked with educating staff on the methods and systems used for team rewards. The company has asked you for a two-page report to summarize how and why teams are compensated.
In your report, you will want to:
- Describe the different types of team compensation and rewards.
- Discuss the relation between motivation and performance.
- Describe how managers evaluate and reward team performance.
- Recommend strategies for determining appropriate compensation and rewards, based on team type.