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Human Resources » Compensation, Rewards, Recognition and Benefits
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Across industry sectors, compensation leaders recognize the value of recognizing and rewarding one of the main drivers behind an organization's success in the marketplace: top performing employees. Annual bonus programs are one avenue companies use to reward employees for their contributions. However, smaller bonus pools, unfair distributions, misalignment of goals, and other obstacles can plague the integrity of the system and potentially send talent out the door.
Best Practices, LLC conducted this cross-industry study to investigate how compensation groups at leading global companies are designing and implementing annual bonus programs to reward top performers and retain talent. The study contains metrics and insights around the strategy and execution of annual bonus plans, including which employees are bonus- eligible, how plans are executed geographically, and the role of guidelines. The study also reviews factors affecting bonus percentages and average target bonus percentage across different workforce segments.
Compensation leaders can use this study to compare their organization's approach to annual bonus plans with that of leading organizations.