A Bonus Program Encouraging to Improve Performance

The bonus plan appears to motivate the employees by providing them with the opportunity to use their skills to earn a monetary or non-monetary reward. Numerous companies improved employee satisfaction by using employee bonus programs that focus on creating advantageous situations for businesses and employees and generating new business. In this case, Larry implemented a bonus program that encourages workers to stand out and improve their performance. Those who cannot make bonuses anytime soon should keep working because establishing contacts and finding new clients will be helpful for future businesses anyway. In general, networking gives businessmen a range of experts from different fields with different order lists. It also provides employees with valuable information and experience that they can use to improve their working performance or start their business. After some time, the employee will eventually be able to earn bonuses, by having a pool of customers. Moreover, looking at other workers’ performance might be useful as it helps gain experience, especially if the worker is a trainee or newbie. However, there might be better bonus plans that do not necessitate established contacts or existing customers. Generally, an excellent bonus program has to be simple, with realistic goals, and prompt paying. For example, if the plan says that the employee has to sell x amount of y products to customers from z company, the workers will find it challenging to translate. Instead, the plan should say that to win x dollars, and the employee has to increase sales by 3% this month. This seems to be an achievable plan that would motivate workers because it is simple. Going back to Larry’s bonus plan, it would be better to divide the goal into pieces so that each month the employee should find a particular number of customers.