Portfolio HR & Reward’s Post

Elevate Your Team with Tailored Bonus & Incentive Plans! 🌟 At Simply Reward Consultancy Ltd, we create custom bonus and incentive plans to motivate your team and achieve business goals. 📊 Performance Metrics: Define specific goals and metrics aligned with your strategy. 💰 Bonus Structure: Set realistic targets and incentives based on job level, contribution, and company performance. ⏳ Evaluation Period: Establish consistent evaluation periods (quarterly, semi-annually, annually) for regular feedback. 📢 Clear Communication: Develop strategies to ensure employees understand evaluation criteria and bonus awards. 🎯 Eligibility Criteria: Define fair and consistent criteria for bonus participation. Empower your organisation to recognise and reward great performance. Let’s create a plan that motivates your team and drives success! Call us: 07817101601 Email us: aisha@simplyrewardconsultancy.com #BonusPlan #Incentives #BusinessSuccess #HR #RewardStrategies

Bonuses are meant to motivate employees, right? But what happens when they do the opposite? Harvard Business Review’s latest research explores how bonuses, when not implemented correctly, can actually hurt morale and reduce performance. Here's why it happens and how to avoid it. Why Bonuses Sometimes Backfire: Unintended Pressure: While bonuses are designed to reward high performance, they can create excessive pressure that leads to stress, burnout, and disengagement. According to a study by Harvard Business School, 44% of employees feel that bonuses create unhealthy competition, which can harm collaboration. Short-Term Focus: Bonuses can shift the focus from long-term goals to short-term gains. Gallup reports that companies relying too heavily on monetary rewards see a 30% decrease in employee engagement over time as employees chase immediate incentives rather than sustainable growth. Perceived Unfairness: If employees feel that bonuses are distributed unfairly, it can lead to resentment and demotivation. A Deloitte survey found that 62% of employees believe that their company’s bonus system is biased or unclear. How to Avoid Bonus Pitfalls: Align Bonuses with Long-Term Goals: Tie bonuses to both short-term achievements and long-term organizational goals. This helps ensure that employees aren’t just focusing on quick wins but are contributing to sustained success. Communicate Transparently: Clear communication about how bonuses are earned can eliminate misunderstandings and feelings of unfairness. Make sure employees know exactly what is expected and how they can achieve their bonus. Emphasize Non-Monetary Rewards: Recognize that not all rewards need to be financial. Providing meaningful recognition, development opportunities, and work-life balance can boost motivation without the downsides of monetary rewards. Research from McKinsey shows that 50% of employees value appreciation from their manager more than monetary incentives. Bonuses can be a powerful tool, but if mishandled, they can do more harm than good. By aligning bonuses with broader goals, being transparent, and incorporating non-monetary rewards, you can create a more balanced and effective reward system. Curious about how bonuses might be affecting your team? Read the full article here: https://bit.ly/3Xd3YYI How do you approach bonuses in your organization? Let’s share ideas in the comments! #EmployeeMotivation #Bonuses #Leadership #WorkplaceCulture

Do annual bonuses work? Not really. My video explains why and how you might think differently about them. Having said that, I’m not anti bonus, if done well it’s definitely got it’s place in a good reward structure – but your typical Annual Bonus – No. This is the third in my ‘Annual Bonus’ series. I’ve covered: 1️⃣ Why ratings should be completely removed from the bonus and performance management processes 2️⃣ How you can calculate bonus payments with no individual performance ratings 3️⃣ And now I’m exploring whether an Annual Bonus really delivers what companies expect it to Follow me for more thoughts about what is needed to deliver a modern, effective, trusted, HR function. Then you could click the bell 🔔 at the top of my profile to be notified of new posts from me. All my videos can be found here - https://lnkd.in/ejc7p7PP

Peak Performance is Connected to Reward and Recognition What motivates Individuals? Is salary enough renumeration for employees? Are employees thoroughly satisfied with just getting a salary? As humans, we are often motivated through different means; one of which is recognition and rewards. A good salary is relative. Even when a company pays well for the work done by its employees, some employees may not be completely motivated to give their best. Is salary the only means for recognition and rewards? For our bespoke Peak Performance Workshop, we take decision makers through the biology of motivation. This will better equip HR Leaders and Line Managers with effective tools and techniques for the 21st century workplace.  The aftermath of the Workshop includes employees feeling more valued and engaged. Are you ready to take your company to the mountain peak? We are a DM away.

Did you know that a poorly planned bonus strategy can demotivate your team and damage your company's results? Avoid the common mistakes that can turn a good initiative into a real nightmare! Failure to align the bonus program with organizational objectives. Lack of transparency and communication Ignoring measurement and continuous monitoring Creating a bonus system that is perceived as unfair or unequal Find out how to structure a fair and efficient bonus program that motivates your employees and boosts your team's performance! Click here and find out more: https://lnkd.in/dWUP8wNN #HR #PersonnelManagement #Bonus #HRTips #TalentManagement

"Acknowledging and appreciating the hard work of your employees is extremely important in order to maintain a good work environment and keep up their morale. A sound method to do so is using bonuses as an impetus to motivate and award employees, all at the same time. However, such bonuses are not to be awarded arbitrarily and without any prior thought. It is necessary to devise a suitable framework for the sound implementation of a bonus plan and structure in your workplace." #EmployeeBonuses #WorkplaceMorale #FinancialPlanning #TalentRetention #MarketTrends #Transparency #WorkCulture #MexitNews

According to a recent study, 85% of employees felt more motivated to do their best when incentives were offered. It's natural for employees to want their efforts to be appreciated and that's why many successful business have incentive programs in place to keep their employees motivated. Incentives can be in many different forms aside from cash, maybe a staycation or spa day, gift vouchers or an extra day off. If you implement incentives, it's guaranteed you will see a positive change in your teams performance! If you need help building your team - reach out to our team of experts on hello@flowtalent.ae. #hr #hiring #employees #recruitment

According to a recent study, 85% of employees felt more motivated to do their best when incentives were offered. It's natural for employees to want their efforts to be appreciated and that's why many successful business have incentive programs in place to keep their employees motivated. Incentives can be in many different forms aside from cash, maybe a staycation or spa day, gift vouchers or an extra day off. If you implement incentives, it's guaranteed you will see a positive change in your teams performance! If you need help building your team - reach out to our team of experts on hello@flowtalent.ae. #hr #hiring #employees #recruitment