Best recommendation for a team-based performance plan

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Reference no: EM131635679

Background Information

The management at Brokerage Firm International, is becoming concerned about the way the firm is operating. Brokers are paid a base salary with bonuses contingent on the number of orders processed and the amount of money processed. Individual brokers work with individual investors and each broker competes with the rest for clients. Due to the competitive climate, brokers do not communicate with each other and mentorship is nonexistent. Management is wondering whether the culture is leading to the temptation to engage in unethical behavior, such as moving money around that doesn't need to be moved (since it would lead to higher bonuses for the broker involved). Management decides to create a team based performance management system with the following goals:

Promote individual performance

Promote team performance so that:

There is more on-the-job training

There are more mentorships

Values and ethics of the company are more easily shared

Question

What would be the best recommendation for a team-based performance plan that will measure all the types of performance involved?

Reference no: EM131635679

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