Incentives are variable rewards granted to employees as per the variations in their performance.
The following are the setbacks associated with group incentive schemes;
1.The incentive may be insufficient to motivate individual workers especially the ones possessing high level of skills.In short there is no reward solely on individual’s own effort.
2.Due to group/team focus, individual job performance will not be improved.
3.A group incentive plan/scheme may be less effective as compared to an individual incentive plan because, under it, the individual does not see his/her effort leading to the award.
4.Since overall performance depends on team effort the conflict and disagreement may be seen in the workplace among teammates.
5.The problem of self-deception can occur.
6.Usually, group members expect greater than average rewards, which lead to internal conflict within the team
nathan1 answered the question on July 1, 2018 at 11:52
- From the following information prepare a cost statement clearly showing the various components of the cost of production (20 Marks)
Sh.
stock on 1st January 2007 48,000
Raw materials 9,800
work in...(Solved)
From the following information prepare a cost statement clearly showing the various components of the cost of production (20 Marks)
Sh.
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work in progress 120,000
finished goods 148,000
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stocks at 31st December 2007
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work in progress 6,000
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