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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Typically that's what employers do when they're facing rigid wage costs: They lay off the less efficient workers.
Right - I'm wondering if this is sufficient to compensate for the issue you cited, that bonuses are less flexible than salaries.
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My cop-out answer: It depends. The more variable your profits/revenues, the lower your tolerance for high fixed costs. An offsetting factor with above-market wages is the employees tend to be more productive/steal less and you have lower turnover (see: Costco).
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I'd be willing to bet that the average employee is less tolerant of income variability than even the most variability-averse businesses. Apparently Costco pays bonuses.
End of conversation
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