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Maritz is a sales and marketing services company that designs and operates employee recognition and reward programs, sales channel incentive programs, (including incentive travel rewards [2]) and customer loyalty programs. [3] It also plans corporate & association trade shows, meetings and events, and offers a customer experience technology ...
An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers.
In 1947 it was reported that spiffs were prizes given to employees who sold particularly high amounts of electrical goods. [4] In 2019, Dell EMC use the term SPIF (Sales Performance Incentive Fund) to refer to programs designed to target business that might otherwise go to competitors. [citation needed]
Common forms of variable pay include performance bonuses, sales commissions, profit sharing, stock options, and incentive programs. It aims to align employee actions with organizational goals, enhance performance, and attract or retain talent by offering the chance for additional earnings based on results. [6]
A commission structure can apply to employees or independent contractors. Industries where commissions are common include car sales, property sales, insurance booking, and most sales jobs. In the United States, a real estate broker who successfully sells a property might collect a commission of 6% of the sale price. [7]
Gainsharing is a program that returns cost savings to the employees, usually as a lump-sum bonus. It is a productivity measure, as opposed to profit-sharing which is a profitability measure. There are three major types of gainsharing: Scanlon plan: This program dates back to the 1930s and relies on committees to create cost-sharing ideas ...
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