Types of “pay for performance” reward systems – in your own words, explain the basis of these plans

Do some research and out outline some of the different types of “pay for performance” reward systems – in your own words, explain the basis of these plans.

Address the following questions in your response:

– What are the Pro’s and Con’s of the plan

– What is motivational about these plans

– How do you manage and evaluate the effectiveness of the reward system

– Why do we say that there is “NO” best one – reward system