performance-incentives

Vocabulary Word

Definition

'Performance incentives' are a type of motivation in which rewards are given based on how well task or job is done. It's like getting a bonus at work for meeting your sales goal.

Examples in Different Contexts

In human resources, 'performance incentives' refer to bonuses or other benefits provided to employees based on their job performance. An HR manager might explain, 'Our performance incentives include extra vacation days and stock options.'

Practice Scenarios

Business

Scenario:

Our sales have been static for the past two quarters. Perhaps we could introduce some form of motivation to boost these numbers.

Response:

I agree. Implementation of performance incentives for exceeding sales targets could definitely stimulate growth.

Academics

Scenario:

The research team has been relentless, but securing additional funding can give them a significant boost. Maybe a grant for innovative research will help.

Response:

Yes, performance incentives like research grants would definitely encourage the team to push boundaries with their innovations.