What's it: Wages are irregular payments to workers. Companies may pay them based on the hours worked or their output. It may be paid daily,
Financial Motivation
Commission-Based Pay: How it Works, Pros, Cons
What's it: Commission-based pay is money paid to employees based on the value involved, expressed as a percentage. How to pay commissions can
Profit-Sharing as a Motivator: How it Works, Advantages, Disadvantages
What's it: Profit-sharing is a bonus paid to employees based on the company's profit performance. It is an additional incentive beyond the
Salary: Influencing Factors, Advantages, Disadvantages
What's it: A salary is a regular lump sum payment usually paid to employees every month. Companies do not pay it based on the hours worked or
Performance-Based Pay: How it Works, Pros, Cons
What's it: Performance-based pay is a compensation scheme beyond salary adjusted for employee performance. If they reach or exceed the targets
Time-Based Wage: How it Works, Pros and Cons
What's it: Time-based wage is a remuneration system calculated based on the time contributed by workers. It is usually calculated based on hours
Piece-rate Wage: How it Works, Advantages and Disadvantages
What's it: A piece-rate wage is a wage system in which workers are paid based on the output produced. This is an alternative to time-based
Fringe Benefits: Examples, Advantages, Disadvantages
What's it: Fringe benefits are compensation provided to employees beyond salary or wages. Common examples are insurance, retirement plans,
Share-Ownership Scheme: Its Importance, Pros, and Cons
What's it: A share-ownership scheme is an incentive to employees and management by giving them the right to purchase stock in the company they
Financial Motivation: Why It Matters and Types
What's it: Financial motivation is an encouragement to employees to do something involving monetary compensation or the like. Companies have
Bonus: Types, Advantages, Disadvantages
What's it: A bonus is compensation beyond the regular salary paid by the company to employees or management, usually once a year. In a narrow