By Ben Miele
Just in time for Christmas, my CEO Eric Mosley has an article in Forbes today advocating ditching the annual bonus.
Does that make him the proverbial holiday Grinch? Not at all! In fact, Eric is a very strong proponent of spreading throughout the year the good cheer the annual bonus was originally designed to impart.
Click through to the Forbes article to read the details on Eric’s 5 quick tips below about how to rethink the annual bonus so recognition criteria are linked to your values and goals – year round.
1) Don’t wait until the end of the year to reward a job well done.
2) Make it memorable.
3) Don’t just reward your top performers.
4) Recognize performance and behaviors that embody your values.
5) Show employees how much you value their efforts.
Be sure to add your comments, too, to Eric’s questions: Does your company offer end-of-year bonuses? Do the bonuses effectively encourage engagement or retention? What other recognition or reward strategies do you employ? Please share your stories or thoughts in the comments section below.
And most of all – our very best wishes for a happy holiday season to you and yours from Globoforce.