Incentive:
- Incentive means that which ‘incites’ or has a tendency ‘to incite action’.
- In the terminology of commerce, the inspiration that the business units give their workers to maintain their work aptitude, continuously increase efficiency, maintain high quality standards, etc. is called incentives.
- Incentives increase enthusiasm of workers.
- Incentives inspire employees to achieve their objectives.
There are two types of incentives. They are:
