3 Different Types of Bonus Programs for Your Employees

Bonus programs are on the rise, a survey by WorldatWork reports. All types of bonus programs - including referral, spot and signing – have risen from 2010 (the last time the survey was conducted). Signing bonuses hit an all-time high of 74 percent, while spot bonuses were used by 60 percent of companies—more than in 2010, 2008 or 2005.

WorldatWork says the trend is due to a growing need on the part of companies to “ensure they have the talent necessary to grow their businesses.” But while the survey focused mostly on large companies, the effects of bonuses will trickle down to the small companies that have to compete with them for staff.

3 Different Types of Bonus Programs for Your Employees