ORGB364 - Chapter 6 - Applied Performance Practices Exam Questions With Verified Answers

ORGB364 - Chapter 6 - Applied Performance Practices Exam Questions With Verified Answers discuss the meaning of money - answerMoney (and other financial rewards) is a fundamental part of the employment relationship, but it also relates to our needs, our emotions, and our self- concept. It is viewed as a symbol of status and prestige, as a source of security, as a source of evil, or as a source of anxiety or feelings of inadequacy. What are some financial rewards? - answerMembership-based and seniority-based rewards Job status-based rewards Competency-based rewards Performance-based rewards What are the most popular individual, team, and organizational performance-based rewards? - answerIndividual - individual bonus, referral bonus, commission Team - team based bonus, gainsharing plan Organizational - ESOP (employee share ownership plans), profit-sharing plan What is one reason why organizational rewards don't improve motivation or performance very much? - answeremployees perceive a weak connection between their individual effort and the determinants of these rewards. Even in small firms, the company's share price or profitability are influenced by economic conditions, competition, and other factors beyond the employee's immediate control. Describe 5 ways to improve reward effectiveness. - answer1. Link rewards to performance.