Definition of «incentive»

Usage examples

1. Financial incentives: Companies often offer bonuses, commissions, or performance-based pay as incentives to motivate their employees to achieve certain goals or targets.
2. Discounts and promotions: Retailers use incentives such as discounts, buy-one-get-one-free offers, or loyalty programs to encourage customers to make purchases or remain loyal to their brand.
3. Rewards programs: Airlines, hotels, and credit card companies utilize incentive programs that offer points, miles, or cash-back rewards to incentivize customers to choose their services.
4. Employee recognition: Companies may use incentives like employee of the month awards, public recognition, or a special parking spot to acknowledge and encourage exceptional performance.
5. Referral schemes: Many businesses provide incentives to customers who refer new clients, offering discounts, free goods, or other rewards for successful referrals.
6. Government incentives: Governments often provide tax breaks, grants, or subsidies to encourage specific behaviors or investments, such as adopting renewable energy or starting a small business in a particular area.
7. Scholarship programs: Educational institutions and organizations may offer scholarships or grants as incentives for high-achieving students to pursue higher education or specific fields of study.
8. Performance-based contracts: Some contracts include performance-based incentives, such as penalties for delays or bonuses for completing projects early, to ensure timely and efficient delivery of goods or services.
9. Wellness programs: Employers may implement wellness programs, offering incentives like gym memberships, cash rewards, or reduced health insurance premiums to encourage employees to adopt healthy lifestyles and prevent illness.
10. Environmental conservation: Governments and organizations may provide incentives, such as tax credits or rebates, for individuals or businesses that take actions to reduce their environmental impact, like installing solar panels or using energy-efficient appliances.