Final answer:
Performance-based goals are set with the use of SMART criteria to ensure they are specific, measurable, achievable, relevant, and time-bound, providing a clear path for rewards based on specific accomplishments.
Step-by-step explanation:
Achievements that are based on specific accomplishments with rewards given for achievement of specified measurements refer to performance-based goals or incentives. These are often framed within the context of SMART criteria, which ensure that goals are Specific, Measurable, Achievable, Relevant, and Time-bound. Rewards and recognition are given as a result of quantifiable achievements, thereby motivating individuals to reach these well-defined standards. It’s essential that people understand how their efforts translate into achievements that are both valuable to them and to the organization.
Setting goals using the SMART criteria is a way to make sure that objectives are clearly outlined and that there is a tangible way to track progress toward these objectives. The imagery of progression, like arrows pointing right, symbolizes the step-by-step achievement that performance-based incentives encourage. Through this approach, compensation can be aligned with the effort expended and the costs incurred in work activities, ensuring fairness and motivation in a business setting.