Financial incentives also known as pecuniary incentive which are monetary in nature and flows from the organisation to its staff. It aims at satisfying the physiological and safety needs through money and motivating employees to perform or enhance their skills and focus on specific targets and priorities in an organisation. Financial incentives include:
(i) Bonuses are a sum of money added to an employee's wages as a financial reward for good performance or meeting specific targets in an organisation
(ii) Profit sharing which means that a company shares a proportion or percentage of their profits with their employees as a means of recognising the employee's contribution in the company's profits.