Financial incentatives

• 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