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    Team rewards and compensation

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    You've started a company that translates software into other languages, as Microsoft does. Outline how your project team will be measured and what will be their rewards and compensation.

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    Solution Preview

    Most organizations today, ranging from the largest and most mature companies to small start-up entrepreneurial ventures, have appraisal systems, which will measure how well the employees are working in order to calculate the rewards and compensations for them.

    Evaluating project team performance is a form of control because it ties performance feedback to rewards and corrective actions. Employee evaluation is an on-going process, taking place informally every day in the organization. Evaluation is formally documented for a given time period in the performance appraisal.

    Performance appraisal is a formal, structured system that compares employee performance to established standards. Assessment of job performance is shared with employees being appraised through one of several primary methods of performance appraisals. Elements in performance appraisal methods are tailored to the organization's employees, jobs, and structure. They include objective criteria for measuring employee performance and ratings that summarize how well the employee is doing. Successful appraisal methods ...

    Solution Summary

    This solution is comprised of a detailed explanation to outline how your project team will be measured and what will be their rewards and compensation.