What Is Bonus Pay?

Patriot Software

One thing you might want to offer employees is bonus pay. When you first start your business and hire employees, you might be worried about how you’ll make payroll each pay period. But once your business is firmly planted, you might be able to give more money to your employees.

What Is the Bonus Tax Rate?

Patriot Software

Many employers recognize their employees’ value with bonus pay. When you give an employee a bonus, you are required to withhold taxes on the additional money. To figure out how much to withhold, you need to understand the bonus tax rate.

Insiders

Sign Up for our Newsletter

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

Shoosmiths introduces employee bonus scheme

Employee Benefits

Law firm Shoosmiths has launched its first formal employee bonus scheme as part of an updated reward strategy. The post Shoosmiths introduces employee bonus scheme appeared first on Employee Benefits.

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

10 Ways to Keep Your Hourly Employees

Getting and keeping hourly workers is no longer as simple as offering them more cash. Employees have options. But this guide from Paycor will help you put your best foot forward to recruit, retain, and develop hourly workers so you can remain competitive.

Illycaffè splits €500,000 bonus among global employees

Employee Benefits

Italian coffee business Illycaffè has introduced a cash bonus for 1,350 employees across the globe, in order to help them cope with the rising cost of living. The bonus will be paid to staff by the end of October 2022. Image credit: Elena Gordeichik / Shutterstock.com.

Baker McKenzie awards US staff bonuses up to $115,000

Employee Benefits

Global law firm Baker McKenzie is to pay its US associates end-of-year bonuses of up to $115,000 (£96,530) depending on seniority. The bonuses will start at $20,000 (£16,788) for those in the class of 2021 and increase up to $115,000 for its most senior associates.

47% of businesses plan bonuses for Christmas 2022

Employee Benefits

Almost half (47%) of businesses said they planned to provide staff with year-end bonuses for Christmas 2022, according to research by Just Eat for Business. The post 47% of businesses plan bonuses for Christmas 2022 appeared first on Employee Benefits.

Tangerine Group rewards staff with profit share bonus

Employee Benefits

Animal health and nutritional brand business Tangerine Group has rewarded 57 of its employees with more than two years of service with an annual profit share bonus. The post Tangerine Group rewards staff with profit share bonus appeared first on Employee Benefits.

Government to remove bankers’ bonus cap

Employee Benefits

Mini Budget 2022: Chancellor of the Exchequer Kwasi Kwarteng has announced government plans to scrap the bankers’ bonus cap , with plans for further regulatory reforms in coming weeks. ” The post Government to remove bankers’ bonus cap appeared first on Employee Benefits.

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?

Jet2holidays implements 8% pay rise and £1,000 bonus

Employee Benefits

Package holiday provider Jet2holidays has awarded its employees an 8% pay rise to be followed by a further £1,000 bonus at the end of the summer. According to the report, Jet2holidays was able to give the increase and bonus to staff due to a well?capitalised

Shell awards 8% bonus following record profits

Employee Benefits

Energy organisation Shell has given its workers a one-off 8% bonus in order to reflect its financial success and record profits from high oil and gas prices. The post Shell awards 8% bonus following record profits appeared first on Employee Benefits.

Airbus pays employees £1,500 cost-of-living bonus

Employee Benefits

Aviation employer Airbus has awarded around 120,000 of its employees with a bonus to be paid in their next payroll, in order to support them during the cost-of-living crisis. The post Airbus pays employees £1,500 cost-of-living bonus appeared first on 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.

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.

Royal Mail to pay upwards of £100,000 in bonus whistleblower case

Employee Benefits

Royal Mail has been ordered to pay a recommended sum of more than £100,000 to an employee due to bullying and unfair dismissal after she blew the whistle on potential fraudulent activity relating to bonuses.

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.

Register for Year-End Webinar by October 7 and Receive Free Bonus Event

American Payroll Association

Register for the webinar Preparing for Year-End and 2023 by October 7 to receive access to a free bonus event—“Nexus in a Rapidly Changing World: Successfully Manage Your Remote Workforce”—on December 9

Everything You Need to Know Before Offering a Sign-on Bonus

Patriot Software

In either case, you may consider offering a sign-on bonus. But before you advertise a $500, $1,000, or $5,000 (you get the picture) sign-on bonus, you […] READ MORE. You’re struggling to find good, quality candidates to fill an open position.

How an 'inflation bonus' can help employees stay afloat

Employee Benefit News

Workforce management Employee retention Compensation

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.

Burness Paull gives employees 5% bonus to reflect profits

Employee Benefits

The firm employs around 600 people, including 86 partners, across its offices in Edinburgh, Glasgow and Aberdeen, and will be making the payment in addition to performance-related bonuses for staff.

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.

TSB gives lowest earning staff £1,000 cost-of-living bonus

Employee Benefits

Banking group TSB has awarded 4,500 of its employees a £1,000 bonus to help with the cost-of-living crisis. The bonus will consist of two £500 payments, in October 2022 and February 2023. The bonus has been implemented in addition to a 6.5%

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!

Peloton offers staff one-off cash bonus and stock options

Employee Benefits

Exercise equipment business Peloton has offered its US employees either a one-off cash bonus or stock compensation changes in a bid to retain its workforce, according to internal memos. The post Peloton offers staff one-off cash bonus and stock options appeared first on Employee Benefits.

STR Group gives staff £500 bonus and summer trading hours

Employee Benefits

International recruitment business STR Group has awarded its 140-plus employees with a £500 cost-of-living bonus , and has introduced summer trading hours. The post STR Group gives staff £500 bonus and summer trading hours appeared first on Employee Benefits.

HSBC awards lowest-paid staff £1,500 cost-of-living bonus

Employee Benefits

TSB awarded 4,500 of its employees with a £1,000 bonus to help with rising living costs, which will consist of two £500 payments in October 2022 and February 2023. The post HSBC awards lowest-paid staff £1,500 cost-of-living bonus appeared first on Employee Benefits.

You at Work awards staff £500 cost-of-living bonus

Employee Benefits

Employee benefits provider You at Work has awarded its staff a £500 bonus , to be paid in November, in response to rising inflation and the cost-of-living crisis. The post You at Work awards staff £500 cost-of-living bonus appeared first on Employee Benefits.

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.

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.

EasyJet joins battle for cabin crew with £1,000 bonus

Employee Benefits

EasyJet has become the latest airline to offer cabin crew a £1,000 bonus in a bid to attract staff in a tight labour market. British Airways (BA) is also offering a £1,000 bonus to new cabin crew who complete their training before July.

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.

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?