Episode 8: Deciding A Bonus Scheme

A bonus system can encourage staff to strive towards an ambitious goal or reward success on a goal that’s already been achieved. Employees that feel valued are more likely to come to work motivated and eager to contribute more.

Many bonus systems reflect a growing awareness of the broader number of factors that contribute to a company’s success. This may include recognising good performance outside of financial targets.

For example, each employee is given a scorecard that looks at new ideas, morale, attitude and how much they help other staff members. These measures can be used to trigger bonuses for individuals or teams, and they have helped to inject an element of friendly competition across the business.