Archive for December, 2009
The Perfect Gift, a Christmas Bonus
Tuesday, December 22nd, 2009 | SPM, bonus | No Comments
In recent years the “Christmas Bonus” has been a species in decline. Once an American staple, it went out of favor for a couple of reasons.
First, you couldn’t call it the Christmas Bonus anymore if you wanted to be politically correct. And unfortunately, “Year End Bonus” or “Holiday Bonus” just doesn’t have the same cache with most of us.
Second, and more importantly, the argument began amongst compensation professionals that an obligatory bonus at the end of the year doesn’t really affect behavior. The goal of compensation is to incent employees’ performance. If they get a bonus every year just for showing up, where’s the motivation?
› Continue reading
Similar Posts:
- What’s in a name? - JasonKearns
- Compensation Management is not for Sissies - JasonKearns
The Dangerous Power of Pay
Thursday, December 3rd, 2009 | Compensation Plans, EIM, SPM | No Comments
One aspect of compensation that has always fascinated me is the psychology of motivating people to do what you want. People are motivated by a lot of different things and there’s a lot of literature around that. However, the common belief is that money is number one and always will be, especially amongst sales people. I’ve always bought into that. I’ve advised clients to simplify compensation plans down to where they know what to sell, how much to sell, and how much money they’ll make when they achieve their goals.
“If you want something sold, put a quota on it.” I always say.
Similar Posts:
- The Perfect Gift, a Christmas Bonus - JasonKearns
- Recession Driving Non-Cash Incentives? - MichaelStus