These guys found that tying to company performance resulted in lower overall satisfaction versus mostly personal performance:https://hbr.org/2017/03/research-how-incentive-pay-affects-employee-engagement-satisfaction-and-trust …
Is this a good long-term yearly salary review policy? I prefer raises over bonuses because bonuses are quickly forgotten and a raise is a recurring reminder to do a good job.pic.twitter.com/Gl1jpPL3lS
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Cool, thanks. If I’m not mistaken, authors looked at company performance rewards vs individual. I’m suggesting a hybrid. They also only interviewed managers. Typically people who reach that level are more qualified on average and thusly favor individualistic reward systems.
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I worked at a firm where I earned a 25-50% bonus that was never below 37%. New job bonuses are 10% or nothing and raises largely de minimus without promotion, I’d say consist actionable feedback was much more impactful than comp structure as long as comp changed when I met goals
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Never below 37% for everyone? A new job bonus is the signing bonus? I'm struggling to understand your last clause.
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The problem with raises is you can't reduce salaries easily. People get extremely upset. They're much less upset when their bonus comes in lower.
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On balance I agree, but not paying an expected bonus can make people even more upset than lowering their salary. Can laying off poor performers not compensate for that problem?
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Good question. If there way below where they should be, you wouldn’t, but let’s say they’re average or slightly below: 1. Inflation 2. It sends the right message to employees performing well, so long as they receive higher raises. Companies are a team, share the success.
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