Rewards for loyalty and hard work
As an employer I’d say that the question of a bonus versus a pay rise has some tunnel vision. A pay rise may be a pay decrease if it bumps an employee’s tax bracket and a bonus is good but it becomes an expectation (psychologically a raise) unless it’s productivity driven. Employee perks seem to be a better solution as they promote a happy workforce and support employees in their everyday lives. I believe in rewarding employee loyalty with added perks per year and with even more perks for meeting goals, good attendance records and more. You must invest in those that invest in you. A bonus is only good for the one to two months, until it’s spent. Long-term perks for long-term employees is a better reward system. You can give perks that financially benefit employees such as transportation allowance, negotiated discounts at local fitness centers and restaurants, retirement contributions, additional paid vacation time, stocks, and more, but also keeps them tax advantaged. It’s also important to promote them from within as much as possible and with that comes titles, recognition, and pay rise.
From Ms Jasmine Williams
UAE
Incentives help motivate
Obviously, every individual wants to earn as per his or her capabilities. If he or she is underpaid, surely they will not be satisfied. If a person works well at their job, does their responsibilities and is paid well, their retention rate will be high. Salary is paid for day-to-day work assigned to us, but if we perform extra to what is asked for, we must be given incentives or bonus. There are so many parameters to rate an employee on a scale. It’s not only performance. Giving incentives and bonuses motivates an employee.
From Mr Sharma NiIkhil
UAE
Money is not everything
As an employee it should be better pay, and to have the end of service benefits as well. Nowadays, money brings satisfaction, but not in all cases.
From Mr T. Bin
UAE
Satisfaction over money
I think I work for satisfaction because if I am satisfied with what is required of me at work, which definitely means that my performance is good. This will empower my boss to increase my salary or give me a bonus as a sign of motivation. Therefore, satisfaction should be first and money will come from it.
From Mr Twinomugisha Micheal
UAE
A pay rise is always better
Job satisfaction is a subjective term. The meaning of it changes on different steps of the career ladder. In the beginning, for me it was getting a job with a good salary, in the field of the education. In those years money gave me job satisfaction. I enjoyed the job for first few years but later on I did a shift in my career to follow my passion. Now working in the field of my passion, even on a lower salary, gives me job satisfaction. The situation in which I am in will decide my definition of job satisfaction. Sometimes, one may not be satisfied with their current job, but the situation is forcing him or her to continue because that job pays good money. In such a situation, job satisfaction is not there. There are other factors to job satisfaction than money, such as how the work environment is; do you feel valued at the company and how your superiors treat you. When it comes to the question of pay rise or bonus, I will prefer a pay rise because bonus depends on the wish of an employer. It is not compulsory to pay the bonus. On the other hand, a pay rise will give me more stability and assured income every month.
From Ms Prachiti Talathi
UAE
Money, money, money
I prefer a pay rise apart from a bonus because a pay rise is money I get every month. A raised remuneration bonus is such a thing where it gives us encouragement for our hard work, more than that of general work provided every day. Yes, I work for money more than that of satisfaction, only because my family’s needs are more. I sacrifice my satisfaction, and this is my personal opinion.
From Mr M. Raheem
UAE
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