Which of the following team rewards 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)Profit-sharing and employee share ownership plans only

Question

Quizplus · Accepted Answer

Gainsharing plans are specifically designed to incentivize teams to reduce costs and increase efficiency. This type of reward system ties a team's performance to a specific metric, such as labor costs, and rewards them with a portion of the cost savings they generate. Profit-sharing and employee share ownership plans may indirectly incentivize cost reduction and efficiency improvements, but they are not as focused on these outcomes as gainsharing plans. Team-based synergy is not a recognized type of reward system.

Which of the Following Team Rewards Motivate Team Members to Reduce