Why Are Flexible Reward Systems Becoming an Increasingly Popular Form

question 63

Multiple Choice

Why are flexible reward systems becoming an increasingly popular form of compensation systems?

• A) Employees value flexible reward systems and may develop strong loyalty and attachment to an employer who provides them.
• B) The flexible reward system allows the organisation to trade off salary increases for benefit increases as ways of rewarding the employee.
• C) Flexible reward systems allow the organisation to standardise the benefits package for all employees.
• D) Organisations get fewer benefits for their rand than they do with standard approaches, but their employees are more satisfied.
• E) Flexible systems require less administrative time to develop and maintain than conventional approaches.

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Definitions:

Commitment

A state or quality of being dedicated to a cause, activity, or goal.

Cross-Functional Teams

Groups composed of members from different departments within an organization, working together towards a common goal.

Specialty Areas

Refers to specific fields or domains within a profession or discipline, characterized by a focus on particular skills or knowledge.

Mutual Problems

Issues or challenges that affect more than one party and typically require collaborative efforts to resolve.