What is Incetive Pay
If you are looking to motivate your employees, incentive pay is one way that you can do it. It is a way of offering staff compensation the goals and targets that they have achieved. This can motivate them to work harder and more efficiently, as they know that they will be rewarded if they do so.
Incentive pay is usually in the form of extra money in an employee’s paycheck. However, you can also offer them incentives that are not monetary. Examples include extra vacation days, branded gear, flexible working, and coaching. Some people would prefer to receive one of these benefits over more money so it all depends on what works for your staff.