All Together Now
Group reward strategies
Suff P, Reilly P, Cox A | HR Network Paper MP81 | Institute for Employment Studies | Mar 2008
Group rewards can play a significant role in reinforcing teamworking and co-operative behaviour, and in clarifying group objectives and goals. They can also encourage employees to identify with business values and to make a greater contribution.
This paper explores the pros and cons of the different types of group reward schemes: starting with individually-focused incentives and team-based rewards, which focus effort on clearly defined goals, and culminating in company-wide profit-sharing and share schemes that reward the combined contribution and cooperation of everyone across the business.
It includes real-life examples and key messages which guide readers towards good practice in their operation of group reward systems.