Which of the following team reward motivate team members to reduce costs and increase labour efficiency in their work process?
A)Profit-sharing
B)Team-based synergy
C)Employee share ownership plans
D)Gainsharing plans.
E)'A' and 'C' only

Question

Quizplus · Accepted Answer

Gainsharing plans are designed to motivate team members to reduce costs and increase labor efficiency in their work process. With a gainsharing plan, teams work together to identify ways to improve production processes and reduce costs. As the team meets or exceeds specific performance targets, they earn a share of the cost savings or productivity gains achieved. This motivates team members to work together and continuously seek ways to improve the work process, resulting in reduced costs and increased labor efficiency. Profit-sharing and employee share ownership plans may motivate teamwork, but they do not directly incentivize reducing costs and increasing labor efficiency. Team-based synergy is a term used to describe the collaboration and cooperation within a team, but it is not a specific team reward.

Which of the Following Team Reward Motivate Team Members to Reduce