Performance bonuses are additional payments given to employees based on their work performance. These bonuses are often tied to specific goals or targets, such as meeting sales quotas or completing projects on time. They serve as an incentive to motivate employees to achieve higher levels of productivity and success. Companies may use performance bonuses to reward both individual and team accomplishments. By offering these bonuses, organizations aim to enhance employee satisfaction and retention, as well as drive overall business performance. This practice is common in various industries, including finance, sales, and technology.