Annual bonuses: How much do they actually incentivize employees?

Achievers

Do you give your employees big annual bonuses as a reward for their work? If so, you have plenty of company: It’s common to rely on annual bonus plans to build employee motivation and pad salaries. Do you give them, or do employees earn them?

It’s Clear Employees REALLY Matter When They Get a $100,000 Bonus

TLNT: The Business of HR

When 1,380 employees got a $100,000 bonus each, the story should have made headlines everywhere.

The Business Case for Employee Recognition and Rewards

Compensation Cafe

Why do we compensate employees? But compensation professionals (and readers of this blog) know the pay cheque is but one part of a very complex agreement between employer and employee to maximize a mutually beneficial relationship. That’s the essence of employee engagement.

Compensation Cafe: How to Get People to Work Harder

RecognizeThis!

But we all know the employee contract is not that simple. If all we’re getting from employees is the bare minimum of what’s outlined in the job description, then we are not only failing as managers, we are failing the employee, too. Recognize This!

2 Critical Budget Considerations for Employee Social Recognition Programs

RecognizeThis!

Budgets must be appropriately established to reach all employees in a differentiated and calibrated way. How should I structure an employee recognition program that will have the kind of impact I’m seeking?”. Is your recognition program appropriately funded?

Why you should identify your employees’ intrinsic and extrinsic motivators

Achievers

Savvy employers understand the difference between intrinsic and external (extrinsic) motivators and develop engagement programs that recognize and reward employees for exercising the right behaviors and aligning with company goals. A motivated employee is more likely to go beyond minimum work expectations, deliver high-quality work, and seek out new challenges. The rewards are tangible and often monetary, like pay increases, new benefits, bonuses, or promotions.

Why Appreciating the Labor of Others Matters

Compensation Cafe

Material incentives like bonuses…quickly lose their punch… When you rely on “stuff” to feel satisfied, you have to keep upping the ante because whatever you get becomes the baseline. Incentives/Bonuses RecognitionThe American holiday of Labor Day fascinates me.

When Irrational Humans Make Good Decisions

Compensation Cafe

That statement alone could fuel many long conversations, but the simple truth of it is often something we ignore when thinking about how best to support our employees in bringing their own best selves to work every day. In what ways are your employees or colleagues positively irrational?

Where Have All the Raises Gone?

Compensation Cafe

Last month The New York Times ran an article bemoaning the loss of pay raises in favor of one-time bonuses and non-monetary rewards. Cited in the article, analyst firm Aon Hewitt calls this a “drastic shift” based on the firm’s annual survey on salaried employee compensation.

Fair Pay, Differentiated Rewards

Compensation Cafe

Let these employees shadow their VP for a day or two including any meetings with clients and top management. This notion was compatible with how businesses operated in the late 20th century -- company performance was dependent on the collective contributions of the mass of employees.

How to Respond to Tough Culture Questions from a Job Candidate

HR Cloud

The way your teams perform is directly reflected in the amount of training and development employees receive. Respond with examples of employees starting out in one department, working on a specific project and then relocating to a different department or office to gain further expertise.

Types of HR Software: A Guide

Capterra

But how do you choose between things as seemingly similar as “attendance tracking” software and “employee scheduling” software? This bucket includes all the types of HR software relating to managing the compensation of employees. Employee Recognition. Employee Engagement.

Build Amazing Cultures Anyone Would Want To Be A Part Of On A Budget

SAP Innovation

There, employees are given fancy gifts, allowed to spend time in lavish resting rooms, and receive huge bonuses every time a special occasion arises. But it doesn’t take a huge budget to build employee appreciation ideas. Whether you’re running a law firm where you need to celebrate trial wins or you’re running a winter coat shop where employees try to meet sales objectives, it’s critical to institute little ways for people to be recognized.

Chasing Best Practices

Compensation Cafe

Of particular interest, they compared the practices of average performing companies to top-performing companies, where the latter are defined as those who rank highly within their industry and exceeded revenue projections in 2015.

Annual Performance Reviews Aren’t Dead, but They Do Need New Life

Capterra

The Society for Human Resource Management (SHRM) suspected they were on their last legs back in 2015 before a number of sources officially called time of death earlier this year. In many systems, managers can simply pick their rating for each employee from a drop-down list.