Gain Sharing
Gain sharing is a way to incentivize third parties with a promise of business growth. Gains share or gain sharing can be between a business and a vendor, or a business and its employees. In either relationship, there are always benefits for both parties. As the profits of the business grow, so do the gains of the third party. The exact specifics of this will vary from contract to contract.
What Small and Midsize Businesses Need to Know About Gain Sharing
Gain sharing can give small businesses another tool to help them grow. It's a great way to incentivize reputable vendors and suppliers to work with a newer business. It can also motivate employees to go the extra mile and remain loyal to the business, reducing staff turnover.
Related terms
- PDM (Product Data Management)
- Project Management
- Gain Sharing
- Small and Midsize Business (SMB)
- Business Process Automation (BPA)
- Human Capital Management (HCM)
- Best Practice
- Business Process Management (BPM)
- Business Impact Analysis (BIA)
- Track And Trace
- Digital Business Transformation
- Bimodal
- Span of Control
- Solution
- Business Process Re-engineering (BPR)
- Enterprise Solutions
- Growth Strategy
- Project Management Office (PMO)
- Business Process Outsourcing (BPO)
- Line Of Business
