Rewards

Question 1

Total rewards = Financial reward + non financial reward

Answer 1

Non financial reward (learning and development )

Non financial rewards (work environment )

Direct Financial rewards (pay and incentives )

Non direct (prerequisites and benefits )

Question 2

New pay

Answer 2

Reward should be linked to performance

Employees can understand the goals of the organisation because that is what the employer is prepared to pay for

Employees receives rewards to the extent they have assisted the organisation to do so

New pay helps link the financial success of both the organisation and its employees

Question 3

Reward as an incentive

Answer 3

Reward as a reinforcement of the desired behaviour

Agency theory - how can a principle assure the agent works in the principles best interest

Monitoring - control

Reward - in such a way that the agent works in the principles best interest

Question 4

Importance of performance evaluation

Answer 4

Perceived fairness :
-Involve employee representativeness
-Communicate with employees
-Be thorough and systematic about gathering info
-ensure employees have an understanding of the basis on which jobs are to be evaluated
-

Question 5

3 factors that lead to better performance and personnel

Answer 5

Autonomy

Mastery

Transcendent purpose