It’s no secret that implementing performance bonuses encourages employees to work more efficiently. If employee incentives are aligned with the company’s goals, both the employee and the company succeed together.
But giving bonuses can be a tricky thing. Unless you have objective and clear milestones that unlock the bonuses, you’re guessing on who earned the bonus. This can lead to resentment among your team members.
And if you don’t tie bonuses to company financial goals, you risk owing bonuses to employees when there isn’t enough profit to fund it. Meaning you either pay them out of pocket or go back on your offer. Neither of these are good options.
In this week’s webinar, LMN Founder and CEO Mark Bradley walks you through setting up an effective bonus program that encourages workers to eliminate waste, increasing profit margins and take-home pay.
