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Palm Jewels. Aakash Explorat. Performance bonuses reward employees for exceptional work. They are customarily offered after the completion of projects or at the end of fiscal quarters or years.
Performance bonuses may be doled out to individuals, teams, departments, or to the company-wide staff. A reward bonus may be either a one-time offer or a periodic payment.
While reward bonuses are usually given in cash, they sometimes take the form of stock compensation , gift cards, time off, holiday turkeys, or simple verbal expressions of appreciation.
Examples of reward bonuses include annual bonuses , spot bonus awards, and milestone bonuses. Workers who reach longevity milestones—for example, 10 years of employment with a given firm—may be recognized with additional compensation.
Some businesses build bonus structures into employee contracts, where any profits earned during a fiscal year will be shared amongst the employees.
In most cases, C-suite executives are awarded larger bonuses than lower-level employees. While bonuses are traditionally issued to high-performing, profit-generating employees, some companies opt to issue bonuses to lower-performing employees as well, even though businesses that do this tend to grow more slowly and generate less money.
Some businesses resort to distributing across-the-board bonuses in an effort to quell jealousies and employee backlash.
After all, it's easier for management to pay bonuses to everyone than to explain to inadequate performers why they were denied. Furthermore, it can be difficult for an employer to accurately assess their employees' performance success.
For example, employees who fail to make their activity quotas may be very hard workers. Pragmatically, if subsidies are acceptable, bonuses that are 'excess' subsidies should be acceptable too.
Any government that offers bonuses wishes to ensure that it is in fact obtaining the fertility reductions for which it is ostensibly paying.
The basic idea of compensating with bonuses those women and men who practise birth control is obvious enough. Here it is supposed, for simplicity, that family planning bonuses are only paid for remaining non-pregnant.
One argument for high initial bonuses is that the very gaining of acceptors will permit lower bonuses to be equally effective later.
On average, million women are assumed to register and receive bonuses. If bonuses are to be used to make a family planning programme more effective, it is necessary to define 'effective'.
Thus, we compute a proxy for the number of periods of service of public workers in activities with special bonuses.
They also believed that bonuses could improve the quality of health care but that they also give incentives to use more expensive prescriptions. Even among vigorous proponents of family planning there are many who oppose the use of bonuses.
See all examples of bonus. Collocations with bonus. Click on a collocation to see more examples of it. From Wikipedia. See all collocations with bonus.
Some plans simply give employees a certain share of the company profits, or perhaps a bonus to the entire company. Other programs give incentives to individuals or teams to perform at or above certain thresholds.
And a variety of cash and noncash awards are possible for certain types of achievements in some companies. You can even earn bonuses for being hired or getting your friend a job at your company.
One very basic type of bonus program is current profit sharing. A company sets aside a predetermined amount; a typical bonus percentage would be 2.
Such bonuses depend on company profits, either the entire company's profitability or from a given line of business. Sometimes the bonuses are given across the board, and sometimes they are given in larger percentages of compensation the more someone makes.
The purpose of profit sharing bonuses is to encourage employees to understand how their work affects the company's performance and to improve the company's profitability.
Learn how your company makes money and how your position can help it make more. The annual report and other statements will give you an idea of how the company is performing.
It will also make you look good to your manager if you show an interest in the company's performance. This type of bonus program is most common in manufacturing plants and is designed to reward productivity and improved product quality.
Gain sharing works best when employees become responsible for production quantity and quality and are encouraged to improve the way the product is made.
This program reflects a philosophy that employees know their job best. Gain sharing programs pay out bonuses for statistical improvements in production and quality on a quarterly or sometimes monthly basis, providing a sense of excitement for participants.
These programs are often very successful, transforming the manufacturing plant into a center of employee commitment.
Some companies reward employees on the spot for achievements that deserve special recognition. You can get these for just being extra helpful.
The math is in employees' favor: companies with spot bonus programs offer approximately 1 percent of payroll and expect to give out such bonuses to 25 percent of the employees eligible for them, allowing them to earn more than one instant bonus in a year.
Although the wrong kind of "employee of the month" concept can be cheesy, it's all in the execution. A well designed noncash bonus program can instill pride and improve employee morale.
Employees who have done a great job should have to come to the front of a crowded room at a special ceremony as if they are receiving an Academy Award.
Definition of bonus. Synonyms Example Sentences Learn More about bonus. Keep scrolling for more. Synonyms for bonus Synonyms cumshaw , dividend , donative , extra , gratuity , gravy , gravy train , lagniappe , perk , perquisite , throw-in , tip Visit the Thesaurus for More.
Examples of bonus in a Sentence As a bonus for good behavior you can stay up late. First Known Use of bonus , in the meaning defined above.
History and Etymology for bonus Latin, literally, good — more at bounty. Learn More about bonus.