“A bonus is a supplementary payment made to you beyond your standard salary. You receive this extra compensation based on individual performance, company profits, or other criteria set by the employer. Bonus motivates you, rewards achievements, and shares the company’s financial success.”
In the context of Human Resources (HR) and corporate offices, you view bonus as an important tool for employee motivation and retention. You can structure them in various ways, depending on the company’s policies and objectives.
1. Performance:
2. Profit-Sharing:
3. Sign-On:
4. Retention Bonus:
5. Holiday or Year-End:
To summarise, we can say that, effective bonus programs can lead to higher job satisfaction, increased productivity, and a stronger alignment between employee efforts and company success.
