February 10, 2021

Employee performance bonuses: How to use them effectively

viaBDC A good bonus plan can help your business attract, retain and motivate employees. Bonuses are especially attractive for start-up businesses, because they are often only paid out if the business makes money. Here are a few things to consider as you design effective performance bonuses. Bonuses should be kept separate from pay and cost-of-living increases and tied directly to specific, measurable objectives that are linked to the company goals and to the employee’s contribution to these goals or the bottom line. Serious problems with morale can arise if bonuses or other reward and recognition plans are not well thought out or...

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