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Incentive compensation is a type of pay or reward that is given to employees as an incentive to motivate them to perform at a high level. This type of compensation is typically tied to specific performance metrics, such as sales targets or profitability, and is often used in sales or management positions. The goal of incentive compensation is to align the interests of the employee with those of the employer, by providing a financial reward for achieving specific performance goals. Incentive compensation can take many forms, including bonuses, commissions, and stock options. It is often used in combination with base salary or wages to provide a more comprehensive compensation package.

A perfectly designed Sales Incentive Structure boosts employee performance and productivity. Follow the steps as mentioned to create the perfect structure. Sales incentives are the rewards a company offers to its employees to motivate them to increase their sales.

Employee benefits from health insurance to retirement plans. Learn how they enhance job satisfaction, attract talent, and promote financial security. Discover more!