Performance Incentives: Incentive pay, also termed as "pay for performance" is usually given for specific performance results instead of simply for time worked. Whereas incentives are not the outcome to all personnel challenges, they can do much to raise worker performance.
The monetary gift given to an employee based on performance that is thought of as one way to persuade the employee to continue delivering positive outcomes. Incentive pay might come in the form of profit-sharing, bonus, or commission.