How do you assess bonuses for employees❓What criteria do employers need❓

How do you assess bonuses for employees❓What criteria do employers need❓

Bonus is a special compensation that the company gives as a gratuity. Usually comes from good performance. But now bonuses have become one of the incentives for employees. It has become a standard system for some companies. (Especially big companies) that no matter how profitable it is, it is necessary to pay bonuses to employees as a normal standard. Just how much and how much money may depend on the operating results of that year.

Most employees may view bonuses as a simple matter. It's just money that is given as a special gift. But if you're in management or even directly in Human Resources (HR) who takes care of it, you'll know better than the bonuses. Especially about the bonus assessment with various details. involved in many

📌 Popular bonus system

+ Annual Bonus : This kind of bonus system is standard for most companies. The bonus is paid once a year, usually at the end of the year. or Chinese New Year or Songkran depending on the convenience of each company

+ Quarterly Bonus : Some companies have a bonus system that pays every 3 months. Most companies that use this system tend to run businesses that require agility, are highly competitive, or are constantly changing their business. Always want to motivate employees Few use this system to alleviate the burden of paying bonuses in lump sum at once.

+ Annual bonus in installments : This bonus system has the same principle as the normal annual bonus. but will be divided into 2 installments, namely the middle of the year and the end of the year The company will also lighten the burden of paying large sums. This system is often used in large companies where employee bonuses are assessed at high rates.

+ Bonus 2 times / year : This kind of bonus system is that the annual bonus is paid in installments, it is not quite right. Because each bonus payment has different evaluation criteria. The companies that pay bonuses in this system tend to use the same standard principle: The year-end bonus is the standard rate that everyone receives equally. (But sometimes they are considered by department or by job level), while mid-year bonuses are often assessed based on individual performance. Each person will receive different bonuses.

📌 Bonus payment format

+ Bonus Guarantee : This form has a clear guarantee of bonus payments from the start. Often it is a Fixed Bonus or a fixed rate bonus that does not change even if the company has good or bad performance. The good thing is that employees feel secure. The bonus is predictable for sure. But the downside is that it's often not a good incentive for hardworking employees. or someone who has the ability and does not attract talented people to work with As for the company itself, there may be a problem when it comes to operating results that are less profitable. Because they promised to pay bonuses at this rate regularly. However, the number of companies using this system is gradually declining. One reason is because modern companies often do not want to bear the risk of unpredictable financial situations.

+ Performance Variable Bonus : This form of bonus payout seems to be the most popular form from large companies to small businesses. due to constant business volatility The advantage of this system is that it is fair for all parties. If the performance is good, the company can pay a lot of bonuses. Or if the performance is bad, the company can refrain from paying bonuses as well. Call it a risk in the form of High Risk, High Return that is worthwhile as well.

+ Variable bonuses based on employee potential : This type of bonus is usually paid in large organizations with a large number of employees. It is a bonus payment system that is fair to all parties as well. who is diligent Doing a better job for the company would surely deserve a better reward Bonus assessments are based on individual potential.

+ Combined bonus system : It seems that this system of bonus payouts is getting more and more popular. especially big companies will bring a bonus system that varies according to the performance with a bonus system that varies according to employee potential to be used together or split the bonus payment into two installments that are assessed differently each time This is a great way to reduce the company's risk. and maintain benefits for employees seamlessly as well In addition, other systems are also used to blend in as best as possible.

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