Examlex
_____ refers to frequent, timely, problem-solving communication carried out through relationships of shared goals, shared knowledge, and mutual respect.
Team- and Group-Based Incentive System
A compensation system where rewards are based on the performance of a team or group, rather than the individual performance alone.
Gainsharing
A performance-based compensation strategy that shares the financial benefits of improved productivity, cost savings, or quality enhancements with employees.
Cost Savings
Financial savings achieved by reducing expenses, improving efficiency, or other means, usually within a business context.
Productivity Improvements
Refers to measures or initiatives implemented to increase the efficiency and effectiveness of a process or operation, enhancing the output relative to input.
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