Nearly half of respondents to a recent HR.BLR.com/Compensation.BLR.com poll report that economic conditions have prompted their organization to either reduce or eliminate year-end bonuses.
When asked “Have economic conditions changed your plans for year-end bonuses?,” 26 percent of respondents answered “Yes, we’ll have to pay our less than planned” while an additional 21 percent responded “Yes, we had to eliminate them.” Just 26 percent responded “No, they will be given as planned.” The remaining 27 percent of respondents answered “No, we don’t give end-of-year bonuses.”
In a recent press release, Hay Group, a global management consultancy firm, explained why--regardless of your current situation--you shouldn't make any hasty decisions when it comes to bonuses, and provided 5 specific things your organization should avoid as the bonus season approaches. You can view the article here.
The HR.BLR.com/Compensation.BLR.com poll included 392 respondents.