Meaning of the word "profit share" in English

What does "profit share" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

profit share

US /ˈprɑːfɪt ʃɛr/
UK /ˈprɒfɪt ʃeər/

Noun

a system in which employees receive a portion of the company's profits

Example:
The company offers a generous profit share scheme to its employees.
Our annual bonus is based on the company's profit share.