Management Tip of the Day: How to Give a Better Bonus

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile FEBRUARY 8, 2010 How to Give a Better Bonus Giving better bonuses doesn't necessarily have to involve more money. Bonuses are a form of compensation, but they are a form of recognition as well. When giving out a bonus, whether it is $150 or $150,000, it's critical to convey your gratitude for a job well done. Don't just leave the check on someone's chair — take the opportunity to give meaningful and specific feedback, offer sincere praise, and recognize the impact of the achievement. It's not the dollar amount on the check that keeps good employees around; it's the sense that they are appreciated for their efforts. Today's Management Tip was adapted from "20 Seconds to a Better Bonus" by Peter Bregman. Read the full post and join the discussion » Share Today's Tip: RELATED PRODUCT How Much Should an Executive Make? HBR OnPoint Collection The U.S. government's attempt to rein in CEO pay ignites fierce debate: just how much are executives worth? This collection offers a variety of viewpoints. ADVERTISEMENT Follow the Tip: ALSO OF INTEREST Help Employees Give Away Some of That Bonus The Coming Battle over Executive Pay Tailor Incentive Compensation to Strategy Case of Big Mac's Pay Plans The Five Traps of Performance Measurement PREVIOUS TIPS Trust in Your Decision-Making Skills How to Prepare for a Tough Performance Review Encourage the Use of Social Media at Work 3 Tips for Masterful Decision-Making Forget Breakthroughs: Take Innovation Baby Steps 3 Tips to Avoid Wasting Time Online Be a Better Listener How to Set Up a Growth Group 3 Steps for Asking for Help without Looking Stupid Get Creative by Zoning Out HBR Online Trial Access HBR's in-depth business archives FREE for 14 days. Register today » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2010 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 1-800-545-7685 (617-783-7600 outside the U.S. and Canada)