Tag Archives | Incentive


The term incentive means an inducement that motivates or stimulates one to action in a desired direction. Therefore, any wage system that induces a worker to produce more is called "incentive wage system." Incentive wage is a monetary inducement offered to employees to show the performance beyond the standard fixed. Incentive is one of the important factors for inducing and [...]

By |2020-10-23T11:55:19+05:30October 23, 2020|Incentive|Comments Off on Incentive

Types of Incentive Plans | Wages | Human Resource Management

The various incentive plans can be classified into two groups: 1. Individual Incentive Plans 2. Group Incentive Plans. Type # 1. Individual Incentive Plans: Under individual incentive plan, individual employee is paid incentive on the basis of individual performance or output. The employers are liable to pay incentives to those employees who are producing more than the standard output. Individual [...]

By |2017-03-07T09:28:00+05:30March 7, 2017|Wage Incentive Plan|Comments Off on Types of Incentive Plans | Wages | Human Resource Management
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