Incentive Schemes
Incentive schemes are structured programs designed to motivate individuals or groups to achieve specific goals or improve performance. These schemes often include rewards such as bonuses, commissions, or other benefits that encourage desired behaviors in workplaces or organizations. They can be tailored to meet the needs of different sectors, including sales, education, and healthcare.
These programs can enhance productivity and job satisfaction by aligning individual efforts with organizational objectives. Common examples of incentive schemes include performance bonuses, employee recognition programs, and sales commissions. By providing clear rewards for achieving targets, incentive schemes help foster a culture of achievement and accountability.