Question: what are the characteristics of an effective reward system?
Answer: Importance. An utmost care should be given towards the management of reward system because the employees should feel that reward is important for them. ... 
Equitable. Equitable is concerned with the fairness in distributing rewards to the employees. ... 
Visibility. ... 
Flexibility. ... 
Low Cost. ... 
Use Of Team Rewards For Interdependent Job.