Company budgets may not be stretching to merit increases, but when it comes to recruiting new employees and keeping existing ones, organizations are increasingly turning to alternative and incidental bonuses.

That's according to a report from the Society for Human Resource Management, which said that the bonuses don't even necessarily take the form of cash but can be in other forms, such as training or increased career development opportunities. Such bonuses are incident-based rewards, and are not the same as variable-pay incentive bonus programs that typically provide periodic annual, or even quarterly, payouts.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.