group incentive bonus scheme

group incentive bonus scheme

a form of PAYMENT BY RESULTS in which WAGES may be supplemented by additional payments based on the performance of the work group, the establishment or the enterprise as a whole rather than the performance of the individual worker (INCENTIVE BONUS SCHEME). For example, in addition to being paid a GUARANTEED BASIC WAGE, workers in a work group could be paid a ‘bonus’ for exceeding predetermined production targets. See PRIESTMAN PLAN, PERFORMANCE-RELATED PAY.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
Full browser ?