Asked by Marshelle Mcdonald on Sep 23, 2024
Verified
Performance-based systems can only use monetary rewards as incentives.
Performance-Based Systems
Systems that appraise and reward employees based on their performance outcomes or achievements, rather than time spent or seniority.
Monetary Rewards
Financial incentives offered to employees as recognition for their work performance, achievements, or to motivate specific behaviors.
- Gain insight into the underlying principles and demands for the implementation of a performance-related pay strategy.
Verified Answer
MW
Men Women and Kids Fashion1 day ago
Final Answer :
False
Explanation :
While monetary rewards are a common incentive in performance-based systems, they are not the only option. Non-monetary incentives such as recognition, promotions, flexible schedules, and training and development opportunities can also be effective motivators for employees.
Learning Objectives
- Gain insight into the underlying principles and demands for the implementation of a performance-related pay strategy.
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