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Employee Chosen vs. Employer Chosen Bonuses

In particular, employee chosen bonuses have proved to be more effective than bonuses chosen by the employer. When employees are given a chance to determine which employee should receive a bonus it can suppress bias and reduce tensions in the workforce. Google is one of the companies that have been able to effectively use employee chosen bonuses to motivate employees. An employee bonus is a form of payment that is outside the normal employees pay, and it is mainly awarded as a result of a specific behavior of the employee (Godechot, 2017). In this regard, bonuses play a central role in motivation, retention, and attraction of employees. There are different types of bonuses. An example is performance-based bonuses, which largely focus on the performance and helps motivate employees to achieve a given goal. Another example is a spot bonus which is an immediate bonus to recognize an outstanding performance, either an individual or a team. A retention bonus is another bonus program used in retaining critical employees. Bonuses can be cash or non-cash, but the main objective is to motivate the employees and keep them happy. It is a short-term reward that has proved to be effective for most companies.

Employee Chosen:

One of the benefits from employee chosen bonuses is the increased motivation of the employees. Increased motivation of the employees increases their performance which, in turn, improves the overall performance of the company. Employees are able to take extra responsibilities, and this ensures quick completion of projects (Nosenzo, 2016). Another benefit is the recruitment benefits. In most cases, highly skilled employees are likely to be attracted to companies that offer good incentives and bonuses. On the other hand, employees within the company are likely to show loyalty, and they are not likely to look for new jobs that ensuring employees retention. Also, bonuses help in creating and building team collaboration and create friendly competition among employees. This is becoming increasingly important with the rise of Gen Z workers because they are not as loyal to the organization as previous generations, so employee chosen bonuses could act as an extra incentive for the best workers to remain at the company.

Despite the accrued benefits of implementing employees’ bonus program, certain potential risks and disadvantages can be noted. One of the disadvantages could be increased jealousy. Unlike salaries, employees in the same level might not receive the same amount of bonuses, and this might spark jealousy and decrease motivation in some employees. Therefore, it is good to pay attention to the interplay of various bonuses to create a program that does not have a backlash effect on employees motivation and performance. Another disadvantage is that employee chosen bonuses might encourage negative peer-to-peer communication in the workplace.

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