ECONOMICS
ENTREPRENEURS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
This is the possibility that the business will have a lower than expected profit or a loss
|
|
|
This is the benefit of having a business which may be keeping the profit, working for yourself or being able to take holidays when you want
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Meaning of reward schemes ’Reward system refers to all the monetary, non-monetary and psychological payments that an organisation provides for its employees in exchange for the work they perform.
Detailed explanation-2: -Benefits are a form of non-cash compensation, which your employer usually states in your contract. Benefits aren’t linked to employee performance, unlike Rewards. Rewards are a motivational tool used to get the best from your employees. Benefits and rewards both have very different traits, but more on that later.
Detailed explanation-3: -Total rewards is the combination of benefits, compensation and rewards that employees receive from their organizations. This can include wages and bonuses as well as recognition, workplace flexibility and career opportunities.
Detailed explanation-4: -Reward is the way that your employees understand that their employers have valued what they do and how they behave. This is a component that turns a company values into a reality and helps cement the cultures of engagement, loyalty and high performance.