Another New Year- Time to Think About Bonuses

Affinity HR Group

With 2019 over and at the dawn of a new decade, it’s an ideal time to think about bonuses for 2020. Organizations of all sizes and across all industries use bonus programs as an important component of total compensation. There are many different types of bonus programs.

2019 Holiday and Incentive Calendar

Kazoo

For each date, we’ve also included a list of feature ideas and suggestions – so whether you’re looking to expand your rewards catalog, swap out your Behavior Bonuses, or create new onboarding redemptions, we’ve got you covered! January Holidays and Incentives.

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2019 Holiday and Incentive Calendar

Kazoo

For each date, we’ve also included a list of feature ideas and suggestions – so whether you’re looking to expand your rewards catalog, swap out your Behavior Bonuses, or create new onboarding redemptions, we’ve got you covered! January Holidays and Incentives.

Cafe Classic: Nine Ways to Sabotage Your Incentive Plan

Compensation Cafe

I continue to be amazed at the many ways that companies manage to sabotage their own incentive plan efforts. You just couldn't find the time to work on the incentive plan until your boss reminded you (again) that it's one of your KPIs for the year. Documentation is for Sissies.

Must employers pay a Christmas bonus?

HR Digest

As the festive holidays unfold, the issue of Christmas bonuses becomes a subject that confuses most people. Both employers and employees are usually confused on the subject and begin to sort out whether the employers are to pay a Christmas bonus or not. What is a Christmas bonus? Employers that can afford to pay Christmas bonuses may use them to encourage their employees. It could also represent a lucrative incentive for employee retention.

How To REALLY Design an Incentive To Drive Behavior

What is Paul Thinking

Incentive for Reducing Travel Costs. If you do all three, you get a bonus of 20 points.” This company was using the article as a way to communicate to potential clients that using points-based incentives are the way to reduce travel costs.

Training in Channel Sales and Incentives

Workstride

Often, companies will just provide a flyer with incentives and instructions on how to submit claims. But providing documentation about your products and/or services can make all the difference! Here we will discuss some of the top five key reasons you should provide training documentation on your products and brand, especially within an incentive program. They would just be pushing a product to get a bonus.

Employee bonus programs: What’s right for your company?

Insperity

If you think your business is too small for an employee bonus program, consider these two questions: Have you noticed less productivity or a decline in employee morale? A meaty bonus program could do the trick. But, before you hit the ground running, take a moment to dive into what kinds of bonuses are out there, as well as what goes into creating a bonus program. Employee bonus program basics. First things first: How are employee bonuses defined?

17 Words About Incentive Pay

Compensation Cafe

The 17 words listed align incredibly well with common incentive plan designs. A quick review of incentive pay basics. This is another situation where many people would be very disappointed if they didn’t “get their bonus.”

New IRF incentives study: Cash rewards not always that rewarding

Maritz Motivation

So says a new study by the Incentive Research Foundation, Award Program Value & Evidence. The thoroughly documented report discusses two broad topics that should be of lasting interest to any HR professionals involved in employee recognition programs: . How today’s businesses are measuring the ROI on their incentive, reward and recognition programs, both tangibly and intangibly . Cash rewards or bonuses can become conflated with regular salary in other ways, too.

Your Guide to the Most Common HR Legal Documents

Namely

When it comes to drafting legal documents, it may feel like you should enroll in night law school or watch some Law & Order SVU to successfully handle the ever-changing tasks assigned to you. While both your company and its employees may take these documents for granted, you know there’s a lot of strategic thinking and work that goes into drafting them. What about bonuses, commissions, stock options, or other common forms of incentive compensation?

Is Your Pay Plan a Trust Buster?

Compensation Force

I have also observed that these "trust-less" compensation plans, more often than not, involve a bonus or incentive award determined entirely by management discretion and a plan that nobody is willing to put in writing. Bonus/Incentives Communication Compensation Philosophy

Spring Cleaning Checklist!

Compensation Cafe

Bonuses are paid, last year's results are old news and grand plans for this year have been signed, sealed and delivered. Run your bonus plan(s)through the washer periodically. Looking at clear skies these days?

Applying Pixar’s “22 Rules of Storytelling” to Pay

Compensation Cafe

Start documenting and modeling as ideas arise. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Pay for Performance Sales Compensation Stock/Equity Compensation compensation dan walter incentives pay performensation pixar rules storytelling

Performance Pay for Gig Workers?

Compensation Cafe

For time-sensitive tasks, a small early delivery bonus could be the little extra incentive your gig worker needs to make sure things are wrapped up on time. Rubric-based quality bonus: Quality bonuses can be tricky.

How Do You Measure Results?

Compensation Cafe

We were discussing incentive plans, and my friend asked what I thought was a pretty simple question: “How do you measure results?”. Have you built out a set of minimum, target, and maximum goals on which you would be comfortable paying yourself big annual incentives?

The Missing Piece of the Puzzle

Compensation Cafe

Base Salaries Compensation Communication Incentives/Bonuses Pay for Performance Total RewardsEditor's Note: Today's post comes to us courtesy of guest contributor Chris Dobyns.

Cafe Classic: Is it the Person or the Position:

Compensation Cafe

This might be fundamental Compensation 301 to some readers, well known and fully documented in every textbook, but I don’t recall seeing it discussed much, if at all. Base Salaries Incentives/Bonuses

The Consultant Dilemma: Make Your Own or Go with Store-bought?

Compensation Cafe

When employee legal challenges occur and work becomes discoverable by a court, consultants' work tends to be far more documented than in-house work. Having been on the "hot seat," they can help you avoid practices or documentation that can be easily challenged.

Startup Equity: You’re Coming With Me, or maybe NOT (Part 13 in an n part series)

Compensation Cafe

Often these are defined in your lawyer’s boilerplate document and never addressed during the design and approval phases of your plan. We’ve covered a lot of ground in this series, but there is always more when it comes to equity compensation.

Relocation Differential or Relocation Package? What's Your Policy?

Compensation Cafe

And since variable pay programs, and sometimes equity award guidelines, can vary quite a bit from location to location, your policy will need to include the steps to either transfer, cash out, rollover and/or qualify the employee for mid-year participation in incentives.

Santa, Where Do Best Practices Come From?

Compensation Cafe

Document how this approach is followed -- including how judgments should be made using the data -- and hold everyone who is doing data analysis on the project to follow the same approach.

Only Cash Buys the Confidence Needed for Non-Cash Appreciation

Compensation Cafe

Yes, everyone already knows about the past-documented $75,000 “happy” level, but that’s too general to be of practical use. When base pay is inadequate, no amount of non-cash total reward elements can fill that gap.

Startup Equity: In Conclusion (Part 14 of a 14 part series)

Compensation Cafe

Proper planning and documentation can lead to less stress and angst. It feels odd to be wrapping up this series on Startup Equity. I started the series almost six-months ago, and although I have written around 10,000 words, I still have nearly endless things that we can discuss.

Why Equity and Not Just a Bigger Salary?

Compensation Cafe

The basis of the article is that we do away with all executive incentive pay and replace it with high (in cases much higher) salary. Smart people will exploit both the documented and undocumented rules of almost any game.

Time for HR’s 2014 Performance Appraisal

HR Daily Advisor

If the managers and supervisors don’t treat the performance appraisal process as a sincere and important aspect of employee development, then the employees will not have incentive to work toward their stated goals. Legal trouble from lack of documentation. Loss of incentive.

Out of the Box Ideas for Employee Appreciation Week

Achievers

Rent a photo booth (or get a Polaroid camera) for the office so your team can document the employee appreciation moments and get some new pictures to put up at their desks – or to share on social media. By: Sarah Clayton. Communications and Campaigns Specialist, Achievers.

Lowering Costs and Staying Safe: Employees on the Road

HR Daily Advisor

Create a frequent flier and bonus mile program. Eliminate extensive documentation and costs by reimbursing employees for business travel car expenses at a rate below or equal to the rate allowed by the IRS; 2016’s rate is 54 cents per mile.

Tackling Total Rewards: A System for Communicating Employee Benefits

ClearCompany HRM

Short-Term Incentive Pay. Long-Term Incentive Pay (stock options, restricted stock or performance) shares. Health Incentive Programs. Holiday bonuses. What is total rewards?

System 253

Performance Management 2.0: Improving Your Employee Motivation Strategy

15Five

Focus more on base pay and less on bonuses. Use team and organizational based incentives or other programs like profit sharing, gainsharing, employee ownership, or stock ownership. This should be a distinct process from performance management and requires more documentation.

Classifying Employees Under New FLSA Overtime Rule

ExactHire HR Trends

Documenting how and when FLSA re-classifications have taken place is important for compliance, but also for internal reference. In late September, the Department of Labor (DOL) announced a final rule that made changes to the Fair Labor Standards Act (FLSA).

Talmetrix is Seeking a User Experience Design Lead

Talmetrix

Talmetrix utilizes an easy-going version of Agile to plan and organize work, so you won’t be required to spend your entire day filling out TPS reports and writing system documentation that will never be read. Bonus points if you have skills with any of the following technologies: Grunt.

Adobe 71

Retirement Savings? HSA, IRA or 401(k)

Benefit Resource Inc.

Verify HSA contributions, incentives or matching programs. Make sure you provide the required documentation and open that HSA. HSA Incentive Contributions. There are many flavors that an HSA incentive program takes on. Pay close attention to the details of the incentives and the time frames. If you find yourself under the annual limit and receive a year-end bonus, consider a one-time bump to your 401(k) contributions. We all have the best of intentions.

New Overtime Rule: Minimum Salary Raised to $35,568

Stratus

Employers can use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10% of that amount.

3 Performance Management Best Practices for Healthcare

Precheck

Frequent Feedback, Documented. He recommends documenting as much of this interaction as possible, coupled with semi-formal reviews several times a year where supervisors can meet with the employee and do a deeper dive into how their performance is trending.

3 Ways to Ensure Fair Pay in Your Organization

Compensation Today

Don’t hesitate to set up a temporary premium for highly coveted skills or offer a signing bonus or salary booster for hot jobs. Don't hesitate to set up a temporary premium for highly coveted skills or offer a signing bonus or salary booster for hot jobs.

New Overtime Rules – What You Need To Know!

Affinity HR Group

Up to 10% of this new minimum salary level for white-collar classifications can be satisfied with nondiscretionary bonuses, incentive pay, or commissions. This must include a weekly salary of at least $684 that does not include nondiscretionary bonuses, incentive pay and/or commissions.