Hi All,
We see a trend in our organization where employees get the annual salary increment cum bonus and putting down their papers the next day.
The bonus is an annual bonus which they get for serving the organization for an year.
This has been happeing for quite a long time.
Around 10 employees have done like this.
Does any body have any idea wherein we can have different kind of bonus system which will make employees stay longer and not make them put down their papers the next day.
Regards,
Madhu
From India, Madras
1We see a trend in our organization where employees get the annual salary increment cum bonus and putting down their papers the next day.
The bonus is an annual bonus which they get for serving the organization for an year.
This has been happeing for quite a long time.
Around 10 employees have done like this.
Does any body have any idea wherein we can have different kind of bonus system which will make employees stay longer and not make them put down their papers the next day.
Regards,
Madhu
From India, Madras
It happens as employees know that they will not get Bonus if they resign early.
We have divided bonus in 2 parts before Holi (for Oct-March period) & Diwali(April-Sept.) and Performance Incentive payable in Jan & July for half yearly performance.
From India, New Delhi
We have divided bonus in 2 parts before Holi (for Oct-March period) & Diwali(April-Sept.) and Performance Incentive payable in Jan & July for half yearly performance.
From India, New Delhi
As suggested by Mamta, you could probably look at Half-yearly or quarterly bonus/ incentives. -Suja
From India, Bangalore
From India, Bangalore
You can link the bonus amount on a quartely payment and based on his last appraisal rating :
You can inform in advance that O rated will get 100 %, VG will get only 90%, Good will get only 75% etc....
Apr to June - Employee need to be part of the system till July 31.
July to Sep - Employee need to be part of the system till Oct 31.
Oct to Dec - Employee need to be part of the system till Jan 31.
Jan to Mar - Employee need to be part of the system till Apr 30.
This way you can differentiate Outstanding from Good performancers & the impact on the business too will be less since there is a quartely payout and people who plan not to wait will leave you early (impact mgt).
Regards
From India
You can inform in advance that O rated will get 100 %, VG will get only 90%, Good will get only 75% etc....
Apr to June - Employee need to be part of the system till July 31.
July to Sep - Employee need to be part of the system till Oct 31.
Oct to Dec - Employee need to be part of the system till Jan 31.
Jan to Mar - Employee need to be part of the system till Apr 30.
This way you can differentiate Outstanding from Good performancers & the impact on the business too will be less since there is a quartely payout and people who plan not to wait will leave you early (impact mgt).
Regards
From India
Dear,
Help me, if any employee left in a financial year; suppose 9 month working in a financial year. Employee request of his bonus of this financial year. What can i do ?
pls give me reply urgent?
Thanks,
From India, Allahabad
Help me, if any employee left in a financial year; suppose 9 month working in a financial year. Employee request of his bonus of this financial year. What can i do ?
pls give me reply urgent?
Thanks,
From India, Allahabad
I think we are missing out the important issue that why they are resigning....it cant be get bonus and leave. It has to be some other reason like better offers, less attachment, any environmental issue etc.
I suggest u find out this first, is there any grapevine happening...
Then work on bonus period.
Best of Luck :)
From India, Delhi
I suggest u find out this first, is there any grapevine happening...
Then work on bonus period.
Best of Luck :)
From India, Delhi
Hi Madhu,
Please look out the real reason of their resignation and work on that. Employees leaves the organisation for various reasons, one of them is salary also but there are other reasons also, so please find out that. One of the way is to conduct exist interviews, side by side you also work on your bonus system if you can improve that then it would be great. You should give quarterly performance bonus. I think one the reason may be that the employees feel that they have to wait for another one year for getting the next bonus, so it is better to change the job. This may be one of the reason. Also look for other reason and solve them.
Regards,
Sumit Kapoor
HR Executive
From India, Calcutta
Please look out the real reason of their resignation and work on that. Employees leaves the organisation for various reasons, one of them is salary also but there are other reasons also, so please find out that. One of the way is to conduct exist interviews, side by side you also work on your bonus system if you can improve that then it would be great. You should give quarterly performance bonus. I think one the reason may be that the employees feel that they have to wait for another one year for getting the next bonus, so it is better to change the job. This may be one of the reason. Also look for other reason and solve them.
Regards,
Sumit Kapoor
HR Executive
From India, Calcutta
Hi Madhu I am agree with Sumit. First of all you should find out the reason of resigning because its not one case as you post there are several cases. Regards Wasim
From India, Delhi
From India, Delhi
I totally agree with Vije, Sumit and Wasim.:-P But I guess its a free market now and workers are getting more mobile (especially the Gen Y and even the X are following suit).
Just my 2 cents :idea:, employees are rewarded for bonuses because of the past year performance so that they work harder next year right? but even if they leave, it WAS :-D still their PAST effort that got them the bonus given.
I remember seeing somewhere that a good performance appraisal or feedback is important, without it reward management is futile:no:.
Well, if the manager had done a good PA, then the 'lousy' :sad: employee would have gotten a 'lousy' :cry: bonus and even if he/she leaves, the organisation shouldn't feel 'heartache' about the bonus given and instead should feel good that you have done the company good in removing mediocrity from the system.
BUT if the manager had done a good PA, then the 'good' :icon12: employee would have gotten a 'good' :grin: bonus and will most likely not leave. Should he/she still leaves, I guess there's a few things to think about: -
Just my 2 cents :idea:, employees are rewarded for bonuses because of the past year performance so that they work harder next year right? but even if they leave, it WAS :-D still their PAST effort that got them the bonus given.
I remember seeing somewhere that a good performance appraisal or feedback is important, without it reward management is futile:no:.
Well, if the manager had done a good PA, then the 'lousy' :sad: employee would have gotten a 'lousy' :cry: bonus and even if he/she leaves, the organisation shouldn't feel 'heartache' about the bonus given and instead should feel good that you have done the company good in removing mediocrity from the system.
BUT if the manager had done a good PA, then the 'good' :icon12: employee would have gotten a 'good' :grin: bonus and will most likely not leave. Should he/she still leaves, I guess there's a few things to think about: -
- He got a better offer:icon10:: re-look at your org's c & b (and also your org's compensable factors)whether there's anything to be done. If not, hey, people move on, even one day if you get a very, very good :lol: offer, I'm sure you'll probably consider too right?
- Could the company had under utilised his/her talent:ph34r:? .....that he/she can passionately use it in another org?
- As the old saying goes - "People don't leave the org, they leave their managers" Yup, the manager was supposed to be 'good' because he gave him/her a fat bonus but that's where some are mistaken. Not everyone can be controlled :icon8: or retained by money alone. Just because they can reward money doesn't mean the managers can 'abuse or mis-use' the employees. (yup, blame it on the managers :beatup: - who else or what else? )
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