We’re considering giving bonuses quarterly vs. one time a year. Is this a good approach?
-VP Operations – Retail Services Co.
It depends. Annual bonuses are a great way to retain talent for an entire year as many employees will wait until bonus time before considering a move. That being said quarterly bonuses provide consistent incentives for your teams to perform throughout the year. The problem with quarterly payments comes with the time it takes for your management team to truly effectively assess each employee’s performance so frequently. Our advice – if this is your first time trying this go for a bonus at 6 months and 1 year.
David Lewis — AKA Mister HR