Since the Great Recession, many workers have felted jilted when it comes to their pay. After all, the amount of money available for bonuses has all but disappeared in many companies. In fact, workers have just been happy to keep their jobs in the last few years. They work hard and perform well in an effort to avoid losing their jobs, rather than expecting a bonus.
That might change this year, though. According to survey reported on by CNN Money, more money than ever is available for performance-based pay. That means that if you do well, you might be in line for a bonus this year.
Companies prepare to reward top performers
According to CNN Money, 12.7% of payroll — a record high — is being set aside for variable, performance-based pay this year. Because the job market is strengthening, companies realize that they need to find ways to attract and keep top talent.
There is even a good chance your company has money for bonuses. The story points out that 91% of the companies surveyed have a bonus program. This represents an increase from the pre-recession (2005) level of 78%.
How much you end up with a bonus depends on your company’s policy, and your own performance. In some cases you might end up with a smaller bonus because the company offers bonuses to everyone. However, if you are a top performer at a company that rewards top performers with more money, there is a chance that you could see substantial bonus.
What do you think? Will you receive a bonus this year?