Testimonials
“This book
is a concise review of the design and implementation of cash bonus programs,
a great review for the experienced practitioner and a wonderful introduction
for the novice or generalist seeking to introduce such programs into
an organization. [It] should earn a place on any compensation professional’s
bookshelf because of the excellent summary of tax laws relating to each
of the cash bonus programs discussed. I am certainly going to mark that
chapter for frequent reference.”
- Michelle Kiewit, Director of Compensation,
Benefits and HRIS, Wellcare Health Plans Inc.
“This is a
book that I would insist on providing to every person on my staff who
deals with total remuneration and compensation. It is easy to understand
and, best of all, it walks the reader through the decision-making, preparation,
analysis, implementation and communication of these plans. This is a
needed presentation of the facts.”
- Rebecca I. Wood, CCP, Director of HR Shared
Services, The Nature Conservancy
“This book
is an outstanding soup-to-nuts tool for any organization that is serious
about alternative cash rewards.”
- Mark A. Szypko, CCP, Director, Compensation,
Benefits & HRIS, Lightbridge Inc.
"This book
contains many useful checklists and pointers for any company thinking
of using cash bonuses, including when they should not be used."
- Alan M. Judes, Hewitt Bacon & Woodrow
Table of Contents
Introduction
• Cash Is King -- Again
• Relating Bonuses to Talent
• Let’s Get Started
Chapter
1: Tying Cash Bonuses to Total Rewards
• The Total Rewards Model
• Hot Skills and Critical Talent
• The Compensation Philosophy
• Cash Bonuses in the Total Rewards Mix
• Total Rewards Statement
• Sample Total Rewards Statement
Chapter 2: An
Overview of Cash Bonuses
• Building a Business Case
• Presenting the Award
• Award Follow-up
• Communicating Cash Bonus Plans
• Cash Bonus Plans in a Unionized Environment
Chapter 3: Sign-on
Bonus
• The Tale of BioKing -- A Fictional Narrative
• What Is a Sign-on Bonus?
• Sign-on Bonuses in Other Industries
• Design Guidelines
• Cash on the Line?
• Aligning Sign-on Bonuses with Total Rewards
• Executive Sign-on Bonus
• Pay Back Time
• Executive Sign-on Bonuses Make Headlines
• Potential Pitfalls
• Communicating a Sign-on Bonus
Chapter 4: Referral
Bonus
• What Is a Referral Bonus?
• Eligibility
• Timing of Cash Award Distribution
• Referral Bonuses for IT Professionals
• Selling the Program to Employees
• Promoting an Employee Referral Program
• Communicating the Employee Referral Bonus Program
• Sample Employee Referral Bonus Program Rules
• Sample Referral Bonus Policy
• Sample Employee Referral Bonus
Chapter 5: Spot
Bonus
• What Is a Spot Bonus?
• Size of Bonus
• Spot Recognition Program Guidelines
• Sample Spot Recognition Policy
• How to Effectively Use Spot Recognition
• Potential Pitfalls
• Conducting the Recognition Event
• Documenting Recognition
• Communicating the Recognition Program
• Who Does the Recognizing?
• Tax Requirements and Legal Compliance
• Rules for Developing Written Communications that Comply with
Regulating Guidelines
Chapter 6: Retention
Bonus
• What Is a Retention Bonus?
• Building a Business Case
• Meeting Organizational Goals
• Combating Turnover
• Retention Bonus Q & A
• Retaining Executives During Bankruptcy
• ERISA Implications
• Potential Pitfalls
• Communicating the Retention Bonus Plan
• Sample Retention Bonus Guidelines
Chapter 7: Tax
Regulations
• The Fair Labor Standards Act
• Withholding on Supplemental Payments
• Bonuses
• How to Withhold
• Discretionary Bonuses
• Rules and Regulations for Bonuses
• Directory of State and Federal Agencies
• State Labor Departments
• Federal Wage and Hour Offices
Appendix
• Sign-on Bonus Survey Data
• Referral Bonus Survey Data
• Spot Bonus Survey Data
• Retention Bonus Survey Data
• Glossary of Terms
• Sources
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