group incentive bonus scheme
group incentive bonus schemea 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