01 Jan 2017
How would you like to go to work every day and give it everything you have, not knowing for sure if you will get a fair return on your efforts? Even worse, how would you like to receive a bonus on how your boss feels you did this year, rather than actual company results?
Let’s start by defining “incentive” and “bonus” plans. I’ll also share why I prefer to use the term incentive plan instead of bonuses.
A bonus plan is decided and doled out based on emotions. It’s basically an unexpected gift, similar to what one would give a child at Christmas time.