For example, in financial centers like New York and London, high cash bonuses that are paid when the economy is booming can lead to a spike in demand for luxury items such as sports cars.
Research regarding the impact of cash bonuses on employee productivity has produced mixed results. Some researchers suggest that cash bonuses do little to improve employee satisfaction and performance.
However, a report by researchers at Harvard indicated that workers who were awarded cash bonuses were more productive than those who received a raise, even though they were earning the same amount.
The researchers concluded that employees who get raises simply assume that the higher salary is the new going rate for their services.
But workers who receive cash bonuses are more likely to view them as discretionary rather than mandatory payments, and so they tend to reciprocate the gesture by working harder.
A cash bonus, like any form of compensation, is subject to taxation. The bonus may be tender with the related taxes already deducted.
If the recommended individual ends up getting the job, the recommender will be given a bonus. Companies offer retention bonuses to key employees to encourage them to stay with the company, especially during stressful periods or during organizational changes.
The financial incentive seeks to provide assurance management values their contributions with the company and would like to retain them. A bonus may also be offered to employees as a reward for some exceptional work that has been done and completed.
A performance bonus is offered when a project, quarter, or year has successfully been completed; when a team or employee goes above and beyond the required job responsibilities; or when special recognition is to be given to an employee.
A reward bonus may be a one-time offer or may be a periodic payment. Reward bonuses are not always cash. Sometimes they are paid out in kind in the form of stocks , gift cards , a day off, a holiday turkey, or simply just a verbal appreciation.
Examples of bonuses given to an employee for a job well-done include the annual bonus scheme , spot bonus award, employee appreciation award, gain sharing bonus and milestone bonus.
In the event that the firm makes a profit during its fiscal year of operation, the profit will be shared amongst the employees, with executives in the C-Suite getting a larger piece of the pie.
The employee appreciation bonus could also fall under the spot bonus scheme or it could be its own separate award plan given to an exceptional employee.
Workers who reach a milestone with the firm, say 10 years of employment, may also be recognized with additional compensation in cash or kind.
Not all bonuses are offered as an incentive or a reward. Some bonus payments made out to employees are not earned,and are given only because the individual is part of the company.
Example of a just-because bonus is the holiday bonus, which ranges from payments in cash or kind to all employees to an extra month's salary in addition to the salary for 12 months already received.
In general, people assume that workplace bonuses are issued to reward workers who have adequate and above-average performance levels, and whose work benefits the company and generates more profit.
This includes those who fail to meet performance expectations. Research reveals that businesses that reward all staff, disregarding performance, generally tend to grow more slowly and in many cases end up generating less money.
Lack of successful and effective management of employee performance typically causes companies to lose profits.
However, the majority of businesses in the United States are still rewarding mediocre employees, and there are a number of reasons why.
Performance-based bonus systems, particularly those that are extremely restrictive, cause substantial headaches, mainly in the shape of staffer complaints, lower morale and anger — taken out on management, colleagues and sometimes even on customers and clients.
The Boston Musical Instrument Company engraved ne plus ultra on its instruments from to to signify that none were better. Never give dangerous tools to someone who is untrained to use them or too immature to understand the damage they can do.
They are not afraid of difficulties. Less literally "Difficulties be damned. Nec deus intersit, nisi dignus vindice nodus inciderit.
Do not get distracted. Refers to the Burning Bush of Exodus 3: Motto of many Presbyterian churches throughout the world.
Novit enim Dominus qui sunt eius. Seneca the Younger , Epistulae morales ad Lucilium , 7: Less literally, "without dissent".
Used especially in committees, where a matter may be passed nem. From Goethe 's autobiography From my Life: Poetry and Truth , p. Legal principle that no individual can preside over a hearing in which he holds a specific interest or bias.
Also translated to "no rest for the wicked. Motto of the Order of the Thistle , and consequently of Scotland , found stamped on the milled edge of certain British pound sterling coins.
Concept present in all four Gospels Matthew The short and more common form of Nemo enim fere saltat sobrius, nisi forte insanit , "Nobody dances sober, unless he happens to be insane," a quote from Cicero from the speech Pro Murena.
A maxim banning mandatory self-incrimination. Near-synonymous with accusare nemo se debet nisi coram Deo. The same image appears in a fable of Phaedrus.
In war, it is essential to be able to purchase supplies and to pay troops as Napoleon put it, "An army marches on its stomach".
Adapted from Terence 's Heauton Timorumenos The Self-Tormentor , homo sum humani a me nihil alienum puto "I am a human being; nothing human is strange to me".
Sometimes ending in est. The guiding principle of empiricism , and accepted in some form by Aristotle , Aquinas , Locke , Berkeley , and Hume. Leibniz , however, added nisi intellectus ipse except the intellect itself.
Or nothing to excess. Latin translation of the inscription of the Temple of Apollo at Delphi. Or just "nothing new". The phrase exists in two versions: A notation, usually on a title page, indicating that a Roman Catholic censor has reviewed the book and found nothing objectionable to faith or morals in its content.
Motto of the Kingdom of Romania , while ruled by the Hohenzollern-Sigmaringen dynasty — Motto of the Fitzgibbon family.
Short for nil nisi bonum de mortuis dicere. That is, "Don't speak ill of anyone who has died". Motto of The King's School, Macclesfield. Medical shorthand indicating that oral foods and fluids should be withheld from the patient.
Motto of Everton F. Or "nothing without providence ". State motto of Colorado , adopted in Probably derived from Virgil 's Aeneid Book II, line , " non haec sine numine divum eveniunt " these things do not come to pass without the will of Heaven.
That is, "everything is in vain without God ". Summarized from Psalm Vulgate , nisi Dominus aedificaverit domum in vanum laboraverunt qui aedificant eam nisi Dominus custodierit civitatem frustra vigilavit qui custodit unless the Lord builds the house, they work on a useless thing who build it; unless the Lord guards the community, he keeps watch in vain who guards it ; widely used motto.
If any one is angry with you, meet his anger by returning benefits for it: In England, a direction that a case be brought up to Westminster for trial before a single judge and jury.
In the United States, a court where civil actions are tried by a single judge sitting with a jury, as distinguished from an appellate court.
It means that when we are denied of something, we will eagerly pursue the denied thing. Used by Friedrich Nietzsche in his Ecce Homo to indicate that his philosophy pursues what is forbidden to other philosophers.
That is, "whether unwillingly or willingly". Sometimes rendered volens nolens , aut nolens aut volens or nolentis volentis. Similar to willy-nilly , though that word is derived from Old English will-he nil-he [whether] he will or [whether] he will not.