The many kinds of incentive pay fall into three broad categories incentives linked to individual, group, or organizational performance.
The various types of incentive pay are divided into three broad categories. Individual, group, or organizational performance-based incentives. Here are the different incentive pays.
Annual bonus: An annual payment that is typically based on a worker's annual salary.
Signing bonus: A one-time payment made when a candidate agrees to work for a company.
A discretionary or spot bonus is a one-time cash payment that recognizes past performance.
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