An outline of an employee benefit plan where employees are entitled to a portion of the profits of their company, receiving bonuses when the company is profitable.
An Employee Stock Ownership Plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company. Through ESOPs, companies provide their employees with stock ownership, often at no upfront cost to the employees. ESOPs are used by a broad variety of publicly traded and closely held companies.
An approved share option scheme designed to help small high-risk unlisted companies attract and retain key employees.
Pay for Performance is a salary scheme where employees accept a lower base pay in exchange for bonuses based on meeting production or other organizational goals.
A recruitment bonus is a monetary incentive provided by employers or employment agencies to those who help find qualified candidates for job positions, particularly in fields experiencing a shortage of skilled professionals.
Shares in a company typically granted to select employees under specified conditions, such as tenure or performance targets, often employed as an alternative to share option schemes.
A remuneration offered to a salesperson for exceeding some predetermined sales goal. Sales incentives are often provided by manufacturers as part of a promotion for the sale of their goods. The incentive may be in cash, or it may take the form of a special prize, such as a trip to an exotic or exciting vacation place.
A share incentive scheme is a program designed to reward employees with company shares upon reaching certain performance targets, fostering ownership and motivation within the workforce.
An upfront payment made to employees as part of the cost of obtaining their services. Often used in competitive job markets to attract top talent.
The process of reducing staff by offering financial incentives to employees with seniority, known as a workforce buyout, can be expensive but it helps maintain morale and loyalty among remaining employees.
