Detailed exploration of bonus plans, which refer to additional compensation awarded to employees for reaching specific performance targets, often enhancing motivation and productivity.
A bonus is additional compensation paid to an employee for achieving specific goals or an unexpected benefit arising from particular actions.
Gain Sharing is a motivational technique in which employees are compensated for measurable performance gains in areas such as sales, customer satisfaction, and cost reductions, often given to teams for achieving specified goals.
A salary scheme where employees accept a lower base pay in exchange for bonuses that are contingent upon meeting production or other organizational goals.
