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Rise Glossary

What is a Performance Bonus?

A performance bonus is a form of financial incentive offered by some employers to reward employees for meeting or exceeding specific performance targets or goals. Performance bonuses can be awarded on an individual or team basis and are usually paid in addition to the employee's regular salary or wage. The amount of the bonus, the criteria for receiving it, and the frequency of payment can vary depending on the employer and the employee's contract or agreement. Performance bonuses are often used to motivate and recognize high-performing employees, to align employee performance with organizational goals, and to reward employees for their contributions to the company's success.