Bonuses — also known as “variable pay,” “pay for performance,” or “performance incentives” in the compensation world — are usually framed as rewards for stellar work or contributions toward employer success. Hit your traffic goals …
Rewards and incentive programs are a part of professional life for many. But, do they actually do what they're supposed to do – make us work more productively? Research has indicated that while these programs might make people work harder, they might not help anyone work smarter. Is performance really improved by incentive programs and rewards? Let's take a look at some of the most recent findings on the matter.
Everyone loves being appreciated at work and nothing says “we love you and hope you stay here forever” more than monetary rewards. According to new information, however, employers are moving toward prosocial bonuses – bonuses that you pass on to either coworkers or charity, rather than keeping for yourself. Do you feel more rewarded and appreciated when you receive the warm and fuzzy feeling of a good deed? Or is this just the next step up from a doughnut bonus?
Cementing his spot at the top with a repeat performance, boxer Floyd Mayweather ruled Sports Illustrated’s “Fortunate 50” list of the highest-earning U.S. athletes for the second year in a row. On a list once dominated by Tiger Woods, Mayweather’s ascent resulted from a pair of big-money fights in 2011 and two more in 2012 that should net him over $90 million.