A compensation plan that provides a one-time or lump sum payment to employees who meet specific performance targets or make some other extraordinary contribution to a company is called:

Question

Quizplus · Accepted Answer

Bonus pay is a compensation plan that provides a one-time or lump sum payment to employees who meet specific performance targets or make some other extraordinary contribution to a company. This type of plan is often used to incentivize employees to work harder or achieve specific goals, and can be a valuable tool for motivating and rewarding employees.

A Compensation Plan That Provides a One-Time or Lump Sum