What Does a Bonus Mean?

Compensation Cafe

Can your employees tell the difference between a raise and a bonus? After all, we often don't make much of a communication effort when we award bonuses. When it comes to bonuses, the understood link with business results is often sketchy, too.

Why Today’s Incentive Thinking Is Different

Achievers

Too often in human history, this meant that people with less power were simply compelled to work, and incentives — if they existed — consisted merely of being allowed to survive. After several evolutionary waves, we have a deeper insight into what truly motivates people, and today’s incentives are about far more than compensation. As the Forbes Coaches Council puts it, “In decades past, motivating employees was all about raises, promotions, and bonuses.

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Help! My Competitor Provides Incentives and I Don’t Like It!

The Incentive Solutions News blog

Consider that, likely, your competitor provides incentives. If your competitor provides incentives, it could be their “secret sauce” to offering a better customer experience than you. Their incentive program is consistent and dependable. They deliver incentives faster.

Employee Rewards and Recognition: 10 Examples of Incentives That Don’t Work

The Incentive Solutions News blog

Employee Rewards and Recognition: 10 Incentives that Don't Work. Incentive Rewards. Our Incentive rewards inspire motivation in your participants and produce the most ROI for your brand. Incentive Programs. Do Incentives Work? Incentives that backfire.

10 Types Of Employee Bonus That Your Workforce Will Adore

Vantage Circle

Of the many good news you can provide to an employee, none will fetch you a broader smile than an employee bonus pay. The announcement of a bonus is one of the most happy welcome surprises that your workers desire. 10 Types Of Employee Bonus That Your Workforce Will Adore.

Use Our eBook to Create a Great Rewards and Recognition Program

Justworks

Is running an employee incentive program worth the time and cost invested? According to the HRM report, US companies spend $1 billion annually on incentive programs — and for good reason. Employee incentive programs — such as bonuses, prizes, and recurring rewards — are a great way to retain employees and motivate your team to push themselves further. However, employee incentives can also.

eBook 112

What Hourly Workers Really Want (It Might Surprise You)

Achievers

Bonuses. Another work perk that hourly candidates care about is a performance-based employee bonus. In the same Snagajob survey referenced above, it appears that 27% of candidates thought bonuses are the most important work perk, so much so that 54% of workers surveyed would change jobs if it meant a bonus structure was included in their compensation plan. That’s because bonuses are usually based on work performance.

If You Don't Give Raises This Year

Compensation Cafe

Some of you will be able to replace the raise with a bonus, so you'll have it easier. Your trade-off program(s) should probably fall under categories like professional growth, career opportunities, work breaks, medium-term incentives and so on.

Pay Transparency Check-In

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Compensation Philosophy Data and Analytics Gender Equity Incentives/Bonuses

eBook 74

Cafe Classic: How is Compensation Like Dating

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Pay for Performance

Why Bother Talking About Total Rewards?

Compensation Cafe

With HR building a single operating calendar for open enrollment, performance management, raises, incentive awards and development planning. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Pay for Performance Performance Management Total Rewards

LifeWorks

     

Help Managers with the Challenges of Video Calls

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Pay for Performance Performance Management

4 Tips for 2020 Career Development

Compensation Cafe

What happens when you disappear raises, slim down bonuses, freeze salaries and/or jack up benefit costs? Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans.

Employee Motivation: Why Bonuses May Not Be the Answer

Impraise

Traditionally money was seen as the main incentive used to motivate employees. Higher productivity results in higher salaries and bonuses. This has created a paradigm shift away from annual performance reviews based on X Theory incentives and towards a mission driven environment that fosters creativity, ownership and self-direction. It’s the end of the year and like in most companies it’s probably time to start calculating and reassessing your employee’s compensation.

Make Milestones Matter

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Incentives/Bonuses Job Evaluation Performance Management

Overlooked Fundamentals of Compensation Strategy

Compensation Cafe

salary increases and bonuses with flimsy links to everyday work, it's hard to engage people beyond job security unless you have career development alternatives to offer. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses

Skip the Coulda, Woulda, Shouldas This Year

Compensation Cafe

Especially for annual programs like incentives that are not thought about in every month of the year. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans.

How to Make Headway on Pay Transparency

Compensation Cafe

It's time to accept that your job has changed from gatekeeper (limiting access to pay knowledge until employees are "ready") to educator (describing the nuts and bolts of salaries and incentives). Have you measured your progress on pay transparency? It's definitely time to check.

What's Going On Out There?

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Hungry for up-to-date data on how your competitors are handling the Human Resource components of the Covid-19 pandemic?

AON 63

Cafe Classic: It's a New Year and I Have an Urge -- Don't You?

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Careers Compensation Philosophy Executive Compensation Incentives/Bonuses Total Rewards

Why Communicate Now?

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Why communicate now? Aren't things bound to change before year-end salary reviews?

Plan Design Laid Bare!

Compensation Cafe

Whether you are redesigning your base pay program or creating an incentive plan, it pays to learn from experienced colleagues, so I've included links to Compensation Cafe articles about each of these three best practices. Singing, Dancing and Posing: Aligning Incentives, Performance Metrics and Strategic Objectives by Stephanie Thomas. Base Salaries Compensation Communication Incentives/Bonuses Sales CompensationBest practices for plan design?

Compensation Communications: Should I Say How I Feel?

Compensation Cafe

Take another example -- you need to communicate the bad news that mid-year bonuses will not be paid because of business conditions. They may understand why there is no funding for bonuses, but they will still be disappointed.

Cafe Classic: The Truth About Great Compensation Design

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Incentives/Bonuses Pay for Performance Performance Management Recognition

It's No Time for "Shelter in Place" When It Comes to Employee Communications

Compensation Cafe

Incentives. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Total Rewards

5 Insanely Great Company Perks That Will Draw Top Talent

Achievers

Incentive Magazine revealed employee benefits are more valuable than ever – according to MetLife’s 10th annual study of employee benefits trends, there is a strong relationship between satisfaction with benefits and overall job satisfaction. Serve up those referral bonuses promptly and be willing to reward outside your own organization. Nudge your staff several times a year to be on the lookout for new team members and change up the bonuses regularly.

Cafe Classic: A Few Things Economists Would Like Compensation to Know

Compensation Cafe

concepts like performance appraisal practices, bonus allocation, merit increase awards, high potential selection and, well, most of the things that we spend our time on. Incentives/Bonuses Pay for Performance Performance Management Sales Compensation

Cafe Classic: Are Your Customers Unhappy, Too?

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses

Compensation Communications that Hit the Mark This Time

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Compensation Communication Compensation Philosophy Incentives/Bonuses Pay for Performance

Can You Depend on Solid ROI for Expensive Elite University Hires?

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. A former Board member for the Bay Area Compensation Association (BACA), Margaret coauthored the popular eBook, Everything You Do (in Compensation) Is Communications, a toolkit that all practitioners can find at [link]. Compensation Philosophy Competencies Data and Analytics Incentives/Bonuses Performance Management

eBook 43

Is Pay Transparency a Gift? Agree, No Opinion, Disagree

Compensation Cafe

I know what I can do to influence the size of my incentive. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Planning an Employee Engagement Survey for the next Fiscal Year?

5 Ways to Fight the "Peanut Butter" Syndrome

Compensation Cafe

Remember, some companies have begun to put their differentiation efforts into incentive payments rather than salary increases. Incentive decisions can also be peanut buttered, as I'm sure you've noticed. Differentiation in incentives holds up best when different employees have different incentive goals. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans.

Why Don't You Invite Yourself to Your Next Executive Interview?

Compensation Cafe

How do you explain your bonus awards? Many employees can't explain what they did to earn their bonus. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans.

Cafe Classic: Be Careful What You're Grateful For This Year

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Philosophy Incentives/Bonuses Pay for Performance Recognition

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. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Performance Management Total Rewards

Don't Do That! Bad Habits and Compensation

Compensation Cafe

New incentive coming up next year? Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. A former Board member for the Bay Area Compensation Association (BACA), Margaret coauthored the popular eBook, Everything You Do (in Compensation) Is Communications, a toolkit that all practitioners can find at [link]. Base Salaries Compensation Communication Incentives/Bonuses

At Some Point, You Have to Talk with the Executive Team

Compensation Cafe

Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans. A former Board member for the Bay Area Compensation Association (BACA), Margaret coauthored the popular eBook, Everything You Do (in Compensation) Is Communications, a toolkit that all practitioners can find at [link]. Compensation Communication Compensation Philosophy Executive Compensation Incentives/Bonuses