Flashcard on Reward Systems in Organization and Management

Front

What is a monetary reward?

Back

Financial compensation

Front

Which of the following is a non-monetary reward?
Health insurance benefits, Cash bonus, Team-building retreat, Salary bonus for meeting sales targets

Back

Team-building retreat

Front

What is the primary function of a reward system in an organization?

Back

Encouraging collaboration and teamwork

Front

Which type of reward is an example of a benefit? Options: Pay/salary, Praise, Health insurance, Incentives

Back

Health insurance

Front

What does a 'longevity bonus' recognize?

Back

Long-term service

Front

What is the purpose of tuition reimbursement as a reward?

Back

To encourage skill development

Front

Which of the following is a characteristic of non-monetary rewards? They involve financial compensation, They are tangible benefits, They provide recognition and appreciation, They are always linked to performance

Back

They provide recognition and appreciation

Front

What is an example of a monetary reward?

Back

Salary bonus for meeting sales targets

Front

What is the effect of a well-balanced reward system?

Back

It can enhance motivation and retention.

Front

Which of the following is NOT a function of a reward system? Employee isolation, Skill development, Retention, Motivation

Back

Employee isolation