Meaning & Definition of word "Incentive"
Incentive
/ɪnˈsɛntɪv/
noun:
- 1. A thing that motivates or encourages someone to do something.
- Example: The company offered a cash incentive to employees who exceeded their sales targets.
- 2. A payment or concession to stimulate greater output or investment.
- Example: Tax incentives were provided to startups to encourage innovation.
- 3. A factor that motivates or encourages an action.
- Example: The promise of a bonus served as a strong incentive for the team to meet the deadline.
Etymology
●From Latin 'incentivus', meaning 'to set in motion'.
Common Phrases and Expressions
financial incentive:
A monetary reward to encourage specific behavior.
performance incentive:
A reward based on individual or team performance.
tax incentive:
A reduction in taxes to encourage certain actions or investments.
Related Words
motivation:
The process of providing a reason for doing something.
reward:
A benefit received in return for service or achievement.
inducement:
A thing that persuades or leads someone to do something.
Slang Meanings of incentive
Meaning: A bribe or an additional payment to encourage action.
● Example Sentence: They offered a little extra as an incentive to sign the contract quickly.
Meaning: A sweetener in negotiations.
● Example Sentence: Adding an incentive to the deal made it much easier to close.