Incentive scheme

Incentive scheme,

Definition of Incentive scheme:

  1. Marketing: Customer motivational program designed to encourage them to buy more of the firms products. Also called bonus scheme or incentive program.

  2. An arrangement under which a company makes extra payments to employees to reward good performance.

  3. HR: Employee motivational program designed to encourage commitment to increasing productivity or in achieving some worthwhile objective such as reducing the number of manhours lost due to accidents.

Meaning of Incentive scheme & Incentive scheme Definition