Tuesday, February 9, 2010

How to Give a Better Bonus

How to Give a Better Bonus

Giving better bonuses doesn't necessarily have to involve more money. Bonuses are a form of compensation, but they are a form of recognition as well. When giving out a bonus, whether it is $150 or $150,000, it's critical to convey your gratitude for a job well done. Don't just leave the check on someone's chair -- take the opportunity to give meaningful and specific feedback, offer sincere praise, and recognize the impact of the achievement. It's not the dollar amount on the check that keeps good employees around; it's the sense that they are appreciated for their efforts.

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