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Spot bonuses can be a great way to target and easily reward employees for their hard work. By leveraging vesting bonuses, you can show your employees they are valued, while driving retention at each vesting milestone.
There are many ways – beyond a large annual bonus – to show appreciation for your key talent. Even a small bonus can be effective and have a longer-term return.
According to research done by PayScale in 2018, spot bonuses are the second most commonly used form of variable pay, tied with employee referral bonuses, after annual individual bonuses.
There’s scientific proof that small, frequent bonuses can make employees feel more satisfied: In a 2001 study, neuroscientists discovered that the anticipation of monetary rewards generates a significant amount of activation in the nucleus accumbens, which is part of the “reward circuitry” of the brain. In the same study, participants self-reported that they felt happier at the prospect of monetary gain.
Creating an equitable bonus and retention program can be challenging. With Keep, you can easily create and deliver vesting bonuses to the employees you wish to secure.
See how Keep can help you create an employee bonus program tied to retention in this short video.
Losing, attracting, hiring, and training employees can be expensive and time consuming.This is a very real, yet fixable problem with Keep Financial’s vesting bonuses.
Keep Financial is revolutionizing how companies attract and retain top talent with vesting cash bonuses – providing an easy-to-use platform to create and deploy usable cash to employees that are earned over their tenure.
Delivers long-term engagement as these are not transactional but purpose-built to drive employee engagement.
Set bonus vesting schedules that drive retention. Enable employees to access the funds early to achieve their financial goals.
Reward employees for tenure and performance. Performance challenges enable businesses to achieve goals and build morale.