Team-Based Rewards

Jody Hoffman

Rewards for performance are commonly used to maximize work output and productivity. With the increased use of team-based work, a variety of team-based reward systems have been developed, with the intent of maximizing performance and satisfaction in work teams. A team-based reward is commonly defined as any formal incentive provided to a work team or at least one of its individual team members. Rewards may be based on organizational, team, or team member performance or other outcomes (e.g., sales, customer satisfaction, and profit). Rewards provided to teams can be categorized as monetary or nonmonetary. Monetary team-based rewards include one-time cash bonuses, permanently increased base salary, and variable pay (i.e., earning a specified percentage of base salary). Nonmonetary team-based rewards include achievement awards, time off work, and special dinners. Team-based rewards can be distributed equally across team members, so that all members receive the same reward (e.g., amount of money, recognition ...

Users without subscription are not able to see the full content on this title. Please, subscribe or login to access all content on this website.