INCENTIVES
Incentives
Incentives are rewards or benefits offered to motivate individuals or groups to take specific desired actions or achieve certain goals. They are designed to influence behavior and promote positive outcomes, often by appealing to self-interest and providing additional value for desired actions.
Purpose of Incentives
- Incentives motivate and engage individuals. They act as a driving force, encouraging people to put in more effort and achieve set goals.
- Improve performance and productivity by increasing the potential gains from achieving desired outcomes.
- They can be used to modify behavior and encourage individuals to adopt desired practices or avoid unwanted ones.
- When rewards are tied to specific goals, incentives can help ensure that individual efforts align with the overall strategic objectives of the organization.
- Incentives ultimately aim to achieve beneficial results, whether it's increased sales, improved customer satisfaction, or enhanced employee morale.