Employee Bonus Alternatives: Are Benefits a Viable Alternative to Cash?

Sodexo Engage

Summary: Do all good employers reward employees with bonuses? What cash bonus alternatives are there? Employee Bonus Alternatives: Are Benefits a Viable Alternative to Cash? How do benefits help employees? What are the advantages to your business of providing employee benefits?

Employee bonus alternatives: Are benefits a viable alternative to cash?

Employee Benefits

Many organisations across the UK believe that the best way to engage and reward their workforce is with employee bonuses. However, a monetary employee bonus policy alone won’t necessarily foster a culture of engagement and satisfaction that improve employee wellbeing and staff retention.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

SSA Acting Commissioner to Speak at Virtual Bonus Event

American Payroll Association

Register early for the 2022 Payroll Congress to attend a virtual bonus event with Social Security Administration (SSA) Acting Commissioner Dr. Kilolo Kijakazi

16 Types of Bonus Every Employee should be Entitled To

Darwinbox

Employee bonuses are the most intuitive and quick way to show appreciation for work and reward employees for their efforts. It is also a way to keep the workforce engaged, motivated, and goal-driven.

Highland Home Carers motivates staff with shares and bonus schemes

Employee Benefits

The overall level of investment by the organisation in both the profit-share payment and share allocation bonus is almost £300,000. The post Highland Home Carers motivates staff with shares and bonus schemes appeared first on Employee Benefits.

Don’t Cut That Check! Your Guide to Referral Bonus Payouts Has Arrived

Patriot Software

Next on the agenda is paying out the referral bonus to the referring employee. But, how you pay out referral bonuses depends on your policy. Found the best new hire thanks to an employee referral? Great!

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

Insperity

A thoughtful, high-value employee bonus program can help make the difference between struggling to recruit and retain talented employees , and having a workplace that employees never want to leave. Employee bonus programs defined. Types of bonus programs. Performance-based bonus.

B&M awards bonus to 24,000 staff

Employee Benefits

The Merseyside-headquartered business said employees will get the bonus payment this month (January) following “strong” trading over Christmas. The post B&M awards bonus to 24,000 staff appeared first on Employee Benefits.

Las Vegas hotel The Cosmopolitan awards staff $5,000 bonus

Employee Benefits

The Cosmopolitan Hotel in Las Vegas, USA, has awarded each of its 5,400 members of staff a $5,000 (£4,089) bonus to recognise their efforts during the Covid-19 (Coronavirus) pandemic. The post Las Vegas hotel The Cosmopolitan awards staff $5,000 bonus appeared first on Employee Benefits.

London Early Years Foundation awards pay rise and bonus

Employee Benefits

London Early Years Foundation (LEYF) has awarded its more than 800 employees a pay rise and a bonus in recognition of their efforts and to help attract new talent. The post London Early Years Foundation awards pay rise and bonus appeared first on Employee Benefits.

Chief execs got average bonus of £172,897 in 2021

Employee Benefits

Chief executives received an average bonus of £172,897 in the year to October 2021, data has shown, while entry level employees and routine task providers were awarded just £642 and £643 respectively.

Register by March 4 for Payroll Congress to Attend Bonus Events

American Payroll Association

To provide more value to our Payroll Congress attendees this year, those who register by March 4 will receive access to two exclusive, 90-minute bonus virtual events.

6 Types of Bonuses and Perks for Employees

HR Digest

. Bonuses are a way to show appreciation of an employee’s effort or performing a task beyond and above the call of duty. He says structured bonus programs are still very popular with organisations and on average companies are planning to budget 13 per cent of their payroll for bonus expenses.

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. Must employers pay a Christmas bonus? The post Must employers pay a Christmas bonus?

Annual bonuses: How much do they actually incentivize employees?

Achievers

Do you give your employees big annual bonuses as a reward for their work? If so, you have plenty of company: It’s common to rely on annual bonus plans to build employee motivation and pad salaries. However, a lot of bonus plans aren’t set up in a way that truly motivates good work. There’s a psychology behind rewards and incentives that you need to understand before you can create an effective bonus structure. Most bonuses, however, only come 1-4 times per year.

John Lewis Partnership to pay 3% bonus and increase staff pay

Employee Benefits

The John Lewis Partnership is to pay employees a 3% bonus, as well as committing to pay the voluntary living wage and implementing a wider pay rise. The post John Lewis Partnership to pay 3% bonus and increase staff pay appeared first on Employee Benefits.

Tesco to pay staff thank-you bonus of 1.25% of annual wages

Employee Benefits

Supermarket chain Tesco has introduced a thank-you bonus of 1.25% of annual wages for its store, customer fulfilment centre and customer engagement centre staff. The post Tesco to pay staff thank-you bonus of 1.25% of annual wages appeared first on Employee Benefits.

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.

‘I have some annoyance around the NO Christmas bonus.’

HR Digest

Dear Jane, I work in an industry where bonuses are common. My prior law firm handed two bonuses a year; one in June and the other in December. No Christmas bonus. I’ve killed it this past year and feel like I deserve a Christmas bonus. Every year I’ve gotten a Christmas bonus, usually in the amount of a few hundred dollars, the most being $1000. Besides, I’ve counted on this bonus for 3 months, and he tells me two days before Christmas that we can’t afford it.

Amazon to shell out $500 million in holiday bonus to frontline workers

HR Digest

In a dramatic turn of events, the retail giant has announced it will pay frontline workers a one-time holiday bonus of up to $300. This holiday bonus will cost Amazon about $500 million, wrote logistics chief Dave Clark in a blog post. “I’ve

Are bonuses the key to hourly staff retention?

Business Management Daily

Some employers have decided that significant investments in bonus plans are worth a try. Example: Fast-casual eatery Chipotle has started a new bonus program for hourly employees that can add up to a month’s worth of extra pay over a full year. According to a Chipotle statement announcing the plan, bonuses will be paid quarterly if crew teams meet revenue and other goals. The bonus is then one week’s pay, calculated using the worker’s average weekly pay that quarter.

Slots with no deposit bonuses: Good or bad?

Take It Personel-ly

When it comes to playing with online slot games, taking some time to learn about the lingo is a worthwhile activity which can help increase your wins and value for money when you are playing. It also pays to know what game you can play to help you along with your slot winning more than […]. Business Lifestyle business outcomes Engagement excellence gambling game design game theory Growth Improvement innovation online gambling online gaming business online slots slot slot history

Metrics beat bonuses: How to motivate with measurement

Achievers

Paychecks arrive on schedule and are expected, similar to year-end cash bonuses. In the Inc.com article, Metrics Are More Motivating than Bonuses , CEO Justin Moore differentiates between year-end bonuses and the positive effects of a performance-based recognition program. While there are many professions that rely on bonuses as part of their annual compensation package, an arbitrary year-end cash bonus can have little meaning to the employee and does not promote engagement.

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?

5 LinkedIn Posts You May Have Missed - Plus A Bonus!

benefitexpress

Let's face it; annual enrollment is a busy time, and chances are - you might be playing catch-up. Here's a quick refresher on topics you may have missed on your LinkedIn feed. Benefits Technology For Brokers & Consultants For Employers

6 ways to make sure your employee bonus program doesn’t fail

Insperity

Offering a generous employee bonus program can be just the right incentive to keep highly motivated employees from looking for work elsewhere. When it comes to bonus programs, not all are created equal. Say you implement a bonus program and then realize that it is flawed – either it is too hard to attain and is causing morale to suffer, or it is too easy and the payout could cost you more than you bargained for – both scenarios can be detrimental.

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.

How to Keep Up the Good Work With an Employee Bonus Program

Insperity

And an effective employee bonus program can help reinforce the message by rewarding positive performance. Sometimes turnover is inescapable – take retirement , for instance – but an attractive employee bonus program can help you fill the gaps with the best candidates. Employee bonus programs come in many forms, but the most important thing is finding one that fits your business. Let employees know what the bonus is, how much it is and when they can expect to get it.

Great Gifts for Your Top-Performing Employees This Christmas Season

Take It Personel-ly

It’s that time of year again when office workers everywhere put on their ugliest sweaters and gather around for Christmas parties with coworkers, eggnog in the conference room and that highly anticipated bonus check.

Payroll Withholding: A Primer for Employers

BerniePortal

To make payroll a little less daunting, in this article, we’ll cover what you need to know about withholding, including how it differs from deductions and some special cases to consider—such as bonuses, commissions, and other supplemental wages.

Supplemental Tax Rates by State [+ When to Use Them]

Patriot Software

But, what happens when you pay employee commissions or bonuses? Generally, paying employees hourly or salary wages is a straightforward process. You may need to use a supplemental flat tax rate for federal and state income taxes. Not all states require supplemental tax rates.

Belgian Corona Premium

Global People Strategist

Per Royal Decree, Belgian companies that have performed well during the coronavirus crisis may grant, in 2021, a one-off increase in the form of a corona bonus of a maximum of EUR 500 (Euros). The granting of the corona bonus can occur in a collective or sectoral bargaining agreement.

Marine Management Organisation reports 9.8% mean gender pay gap

Employee Benefits

Meanwhile, MMO’s mean bonus pay gap for 2021 was 10.9%, and its median gap reached 0%. A total of 47% of women received a bonus that year, compared with 53% of men. We are confident that bonus gaps will reduce by the time the 2022 report is published.”

Unum UK reports 23% mean gender pay gap

Employee Benefits

Unum’s mean gender bonus gap increased slightly to 56.9% from 56.4%, whereas its median gender bonus gap dropped from 37% to 35%. In 2021, 93% of women and 92% of men received a bonus, compared with 92% and 90% in 2020, respectively.

Richard Kay: Benefits for first-time buyers can also benefit employers

Employee Benefits

To start with, employers can consider providing first-time buyers with bonus packages that are geared towards helping them save a deposit for a house. Communication with employees is key to understanding their housing and financial goals and shaping bonuses accordingly.

Adecco Group UK and Ireland publishes gender pay gap report

Employee Benefits

More positively in terms of pay equality, the agency’s mean bonus gap narrowed by more than 15%, to -8% from -23% in 2019, which was driven by the improved female representation at a more senior level. The median bonus gap also narrowed, from 27% to 19%.

DHL drivers delivering for JCB secure 9.5% pay rise

Employee Benefits

pay increase, plus a £750 bonus , 80% of the GMB member drivers voted in favour of the deal. Now they are walking away with a big pay rise, a bonus and their heads held high.