This type of individual incentive plan rewards employees who recruit new customers or new employees.

Question

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The type of individual incentive plan that rewards employees who recruit new customers or new employees is called a referral program or plan. In this plan, employees are encouraged to refer friends, family, or acquaintances to the company either as customers or potential employees. If their referral results in a new customer or hire, the employee is rewarded with cash, gifts, or other incentives. This type of plan can be an effective way to encourage employees to become brand ambassadors for the company and expand its customer base or talent pool.

This Type of Individual Incentive Plan Rewards Employees Who Recruit