What do you know about incentive schemes?

Question

Accepted Answer

Incentive schemes are rewards given to employees or customers for achieving certain goals or targets.

Incentive schemes can motivate employees to work harder and achieve better results.
They can also encourage customers to make repeat purchases or refer others to the company.
Examples of incentive schemes include bonuses, commissions, discounts, and loyalty programs.
Incentive schemes should be designed carefully to ensure they are fair and effective.
They should also be communicated clearly to employees or customers to avoid confusion or misunderstandings.

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