Gainsharing
Gainsharing
A client needed more knowledge about some different financial-based forms of remuneration we talked about: Gainsharing.
It might be good to have a definition here: Employees are financially rewarded based on the collective performance of the organisation or a specific department through gainsharing, a workplace incentive program. Unlike traditional profit-sharing, which distributes a portion of overall profits to employees, gain-sharing typically focuses on improvements in productivity, efficiency, cost reduction, or other performance metrics. When employees meet or exceed certain predetermined goals or targets, they are rewarded with bonuses or incentives, which fosters teamwork and collaboration towards common objectives. Gainsharing aims to align employee interests with organisational goals and foster a culture of continuous improvement and shared success.
If you would need a template for an agreement in this regard, please contact me. And you can find more in my login area, too.
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