Yes, an incentive plan can include a bonus component. An incentive plan is a broader concept that encompasses various methods used to motivate and reward employees for their performance and achievements. A bonus, on the other hand, is a specific form of incentive where employees receive additional financial compensation beyond their regular salary or wages.

While a bonus is a common element of many incentive plans, incentive programs can also include non-monetary rewards such as recognition, career advancement opportunities, training and development, flexible work arrangements, or other perks. The goal of an incentive plan is to encourage and incentivize employees to excel in their work, align their efforts with organizational goals, and recognize their contributions to the success of the company.