Final answer:
The pay policy that focuses on the favorable impact of choices and need-based support that can come from sound design of employee benefits is Efficiency.
Step-by-step explanation:
The pay policy that focuses on the favorable impact of choices and need-based support that can come from sound design of employee benefits is Efficiency.
Economic performance is a key factor in this policy, as it emphasizes the idea that resources should not be wasted in order to produce products. By designing employee benefits in a way that promotes efficiency, companies can improve productivity and ultimately achieve favorable outcomes.
For example, offering retirement plans and employee insurance can provide financial security to employees, allowing them to focus on their work without the stress of financial concerns. This can lead to increased motivation and effort in their work activities.