Performance incentives encourage higher performance among your employees by offering rewards (either cash or non-cash) for achieving pre-defined performance measures (such as sales targets).
While there is some overlap, bonuses differ from performance incentives in that bonuses cover a wider range of purposes (eg variable pay, company performance), can be both discretionary and non-discretionary, and tend to be more retrospective in nature. Performance incentives are forward-looking and KPI-based, and aim to engage employees in a way that neither bonuses nor commission can.
Download our eBook “The Definitive Guide to Performance Incentives”
This expert guide gives lots of practical tips and insights into running employee incentive and reward programmes-
- What Performance Incentives can be used for
- Types of Performance Incentives
- Types of Rewards
- Steps to a Successful Performance Incentive
- Calculating the ROI on Performance Incentives
- Mistakes to Avoid in your Incentive Programme
- Case Studies
