University of Maryland Effective Reward System Discussion

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Business Finance

University of Maryland University College

Description

Give an example of how an organization might evaluate the effectiveness of its reward systems. Be sure to include specific metrics and the data that would be gathered as part of the evaluation process.


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Explanation & Answer

Attached.

Running head: EFFECTIVE REWARD SYSTEM

Effective Reward System
Institution Affiliation
Date

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EFFECTIVE REWARD SYSTEM

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It is necessary that employees are rewarded over time for their contribution to the success
of a company. This is because a reward system is considered a cost of the business transaction,
whereby the primary goal is to minimize the cost. The reward system is also considered an
investment program, which sees to it that the return of investment is maximized as well. With
this in mind, it is essential to evaluate such a system to make sure that it performs the tasks it is
was developed for...


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