RE: Rns3 Sep 2020 18:32
Incentive plans, which are known as performance incentive plans (PIPs), motivate employees to exceed expectations and grow the business. Such plans promote exceptional behavior during a specific period. In addition, they attract potential employees to an organization and encourage company loyalty.
The six common types of incentive plan are cash bonuses, profit-share, shares of stock, retention bonuses, training and non-financial recognition.