Marketing
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VYTAUTAS MAGNUS UNIVERSITY | EMPLOYEE REWARD SYSTEMS | Contingent Pay - Pay Progression: Rewarding | | GUILLOTIN Delphine / BIHAN Benjamin | 06/04/2011 ||
SUMMARY
TEAM REWARDS
Definition:
A team reward is financial or non-financial reward provided to member of a defined team. Typically, rewards are shared in a fair way and in accordance with a published formula, among the members of the team.
Factors which affected team rewards:
Different factors have influence on team rewards.
Most approaches to team reward focus on small groups, taking the definition of Katzenbach and Smith: a small number of people with complementary skills who are committed to a common purpose, performance goals and approach for which they hold themselves mutually accountable.
They assert that: teams outperform individuals acting alone or in large organizational groupings, especially when performance requires multiple skills, judgments and experiences. There have also been some team-based reward experiments with larger groups – arguably overlapping with territory normally covered by gain sharing and profit-related pay – and we refer to these below.
We can present here 4 different types of teams: * Process or work teams: full-time, permanent teams whose members together to carry out a process. * Parallel teams: part-time teams that meet to solve a particular problem and then disband or meet from time to time to deal with or monitor particular issues. They are often cross-functional. * Project or time-based teams: full-time teams committed to completing a project within a given timescale and in which the membership may vary over time. * Hybrid teams: teams may have both full- and part-time and rotating members.
About team effectiveness, four factors can have influence on the team performance, factors explain by Beckhard: * Setting goals or priorities. * How work is allocated (roles). * The way the team is working (its