rewards-system

Vocabulary Word

Definition

A 'rewards-system' is a structured way of recognizing and encouraging good behavior or performance. It gives benefits or prizes to people who do something well or achieve a goal. It's used in many places like businesses, schools, or even in homes to motivate people.

Examples in Different Contexts

In customer loyalty programs, a 'rewards system' incentivizes customers to continue doing business with a company through points, discounts, or special offers. A marketing manager might describe, 'Implementing a rewards system has proven to significantly increase repeat purchases and customer engagement.'

Practice Scenarios

Academics

Scenario:

Noticing many students putting in extra effort lately, maybe we should think about how we can recognize their hard work.

Response:

What about a rewards-system like academic scholarships or research grants for those with consistent high performance?

Tech

Scenario:

The last sprint was tough, the team did a great job. I wonder if there is a way we can acknowledge the team's effort.

Response:

What if we implemented a rewards-system? 'Kudos' for achieving milestones could be exchanged for benefits like a day-off or premium tech gear.