Bonus schemes are an excellent way for business owners to add much-needed structure to the office space environment, it has been claimed.
According to a new report from the Performance and Reward Centre (PRC), bonuses are a good way of reinforcing a company’s targets – both internal and external.
The Developing Performance Incentives and Sustaining Engagement in a Volatile Environment report also suggests that office space bonuses are a good way of offering feedback on performance and highlighting desirable workplace practices.
Commenting on the new research, Kevin Abbott, director at PRC, told HR magazine: “Bonuses have come in for intense criticism recently – mainly due to bankers’ pay but also in other cases when organisations have paid large bonuses despite declining financial performance.”
However, he claimed that bottom line performance should not be the only criteria that organisations use to assess whether workers should be entitled to a bonus.
“Our research shows that, in fact, bonuses are a valuable business tool and many companies have adjusted their arrangements so that they stay relevant, achievable and fair in the current economic conditions,” Mr Abbott added.
David Leyshon, managing director of CBSbutler, recently told Recruiter that bonuses in the office space are a great way of boosting staff loyalty.