WHAT IS BONUS

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WHAT IS BONES

         A bonus is extra money that an employee receives apart from his or her salary or wages. All employee of a company or organisation gets extra money on certain occasion is called bonus. For example if employee gets bonus on new year then it termed as the new year bonus. Companies also give bonus to its shareholders if the performance of the company is well and its make profit. Insurance companies also give bonus to its customers  if they have a profitable year. So in general bonus means benefit or advantage given by company or organisation to its employees. Bonus may be paid in cash,stock or stock options for employee.

TYPES OF BONUS

      An company gives bonus for various reasons such as incentive bonus,bonus for boosting the morale,bonus for good performance and bonus for increasing productivity.

INCENTIVE BONUS

    This type of bonus encourage the specific activity or behaviour of the employees.

(a)  Sigh -on Bonus-  

         Employer sometime offer to its employee financial reward when someone signs with the company. it may be specific amount of money,but it is also common to offer help with season tickets for travel,medical facilities and other type of compensation that makes the job offer seem more attractive.

   (b) Retention bonus --

     If a company  is facing stressful period ie company is not making profit to fulfil its expenditures in such a case or in a case when company going through a significant organisational changes company may reward employees who retains with the company.

(c) Referral Bonus-  

    Some companies offer referral bonus to its employee who refers candidates for job opening.

PERFORMANCE BONUS

 Unlike incentive bonuses that is linked to particular activities or behaviours,performance bonuses are more general incentives which encourage the employee to work harder throughout the year. The value of bonus is often calculated based on how much an employee,team or department exceeds target goal and helped to generate revenue for the company. Performance bonus normally given at the end of the financial year but it may be also given monthly,quarterly,half yearly and annually.

SHAREHOLDER BONUSES

  Companies may also pay bonuses to their shareholders. Dividends and bonus shares are the most common types of shareholder bonuses.

  

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