Understand the basics of bonuses and incentives, the trends in their application, and how to design and operate schemes effectively and ethically
The effectiveness of bonus and incentive schemes depends on an awareness of the key factors needed for success and recognising that individuals may respond differently to the same stimulus.
This factsheet explores the types of bonuses and incentives, their use, and their potential benefits and drawbacks. It also highlights research evidence and the possible implications of using such schemes.
Affiliate membership offers instant access to CIPD resources without the need for assessments or study, or explore your options to become a professional member of the CIPD to demonstrate your commitment to the world of work.
Already a member? Login here.
Learn about the UK law surrounding workplace pensions and how to choose new schemes or review existing pension arrangements
Outlines the purpose of pay structures and progression, including the common ways of structuring pay and determining, reviewing and controlling pay progression
Learn about the UK law surrounding workplace pensions and how to choose new schemes or review existing pension arrangements
Examines the history, principles and current practice around competence and competency frameworks
Explores the role people professionals play in applying ethical values to organisational practice