What is aSpiff

Spiff is a quick-received incentive, such as a financial bonus, vacation, or another non-cash prize, for achieving a milestone (e.g. first premium sale of a day) or performing a specific task (special quota attained within a given time frame). Managers, employers, and other entities may offer spiffs to encourage new products or increased production over a period of time. Sometimes, spiff is used as an acronym by business people. They use the words "Sales Performance Incentive Fund", to explain its meaning.