Stacy Strauser on Employee Bonus Programs in Human Resource Executive

In a 2019 survey, approximately 23% of surveyed organizations offered individual employee-performance plans, and 52% offered special recognition spot bonuses.

However, experts say that businesses have shifted towards basing bonus programs on a number of performance factors, including overall company results, individual performance, and business unit outcomes. And while financial compensation is always an incentive, OneDigital’s Director of Compensation Consulting Stacy Strauser insists that companies should consider structuring their bonus programs in a more creative fashion. Suggestions include offering additional training opportunities and remote work options.

In the Human Resource Executive article "Here Are The Latest Trends In Employee Bonuses," Strauser also stresses the importance of strong preparation and communication when it comes to employee bonuses.

Have your ducks in a row and document the bonus program in advance, on your website. Always tie bonuses to employee or company performance, and make sure employees know that bonuses are not an entitlement.
 
—Stacy Strauser, Director of Compensation Consulting, OneDigital Mid-Atlantic

Read the Human Resource Executive article here.

Want to learn more from Stacy about best practices for competitive employee benefits packages? Listen to the recent podcast, “What’s in it for me? How to Offer a Competitive Rewards Package.”