Effectiveness of Reward Systems (AQA A-Level Business): Flashcards
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Practise the cards
10 cards from this deck
Two main types of reward systems
Two main types of reward systems
Financial and non-financial
Best leadership style for effective reward systems
Best leadership style for effective reward systems
Soft and democratic
Unit labour costs definition
Unit labour costs definition
Cost of employing staff per unit of output
Hard management approach favours which type of reward?
Hard management approach favours which type of reward?
Financial incentives
Soft management approach favours which type of reward?
Soft management approach favours which type of reward?
Non-financial rewards
Effect of recession on performance-related pay systems
Effect of recession on performance-related pay systems
Difficult to maintain as business performance declines
Why employees need involvement for rewards to work
Why employees need involvement for rewards to work
Can influence outcomes through their efforts
Organisational culture must support what for rewards?
Organisational culture must support what for rewards?
Involvement and communication
Examples of financial rewards (3)
Examples of financial rewards (3)
Bonuses, pay rises, profit-sharing schemes
Examples of non-financial rewards (3)
Examples of non-financial rewards (3)
Recognition, job enrichment, flexible working