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Commission
Commission is a payment based on sales performance, often used in sales roles.
Employee share ownership
These schemes offer employees shares in the company, aligning their interests with long-term business success.
Financial rewards
Financial rewards are monetary incentives provided to employees in exchange for their work. These rewards can be direct, like salaries and bonuses, or indirect, such as benefits and profit-sharing schemes.
Fringe payments
Fringe payments (or benefits) are non-cash rewards that enhance an employee's compensation package.
Performance-related pay (PRP)
PRP rewards employees for meeting or exceeding specific targets. It can take the form of bonuses or salary increases.
Profit-related pay
Profit-related pay involves sharing a portion of the company's profits with employees.
Salary
A salary is a fixed annual payment, typically divided into monthly installments. It provides stability and predictability for employees.
Wages
Wages are payments based on hours worked or units produced. They are often used for hourly or piece-rate workers.