Meaning of the word incentivize in English

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

incentivize

US /ɪnˈsen.t̬ə.vaɪz/
UK /ɪnˈsen.tɪ.vaɪz/

Verb

to motivate or encourage someone to do something by offering a reward or incentive

Example:
The company decided to incentivize its employees with bonuses for meeting sales targets.
We need to find ways to incentivize people to use public transportation.