XYZ Ltd Has Just Introduced a Performance-Based Reward System for All

Essay

XYZ Ltd has just introduced a performance-based reward system for all production employees.The plan pays employees a team-based bonus based on the reduction of labor costs per unit in the production department.Describe three strategies to ensure that this (and other)performance-based reward systems is effective.Your answer should also briefly state the type of reward system used by XYZ Ltd.