Financial incentatives

Cards (5)

  • Piecework
    • Employees are paid according to the number of units or pieces they produce
  • Commission
    • A percentage of sales revenue paid to workers who sell products or services
  • Bonus
    • An additional payment is given to staff as a reward for achieving specific goals, completing projects on time, or exceeding performance expectations
  • Profit share
    • A portion of the company's profits are distributed among staff which encourages them to think like owners, work collaboratively and focus on the company's overall goals
  • Performance-related pay
    • Staff are paid based on their performance which (theoretically) motivates staff to work harder and achieve better results