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CERA's Bonus Scheme Assignment

Added on - 20 Sep 2019

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CERA's Bonus Scheme
Bonus schemeThe bonus is defined as the amount of incentive which is given by the employer to the employeeand it is the portion of profit which is distributed in order to increase the productivity within theparticular time period. The bonus can act as a tool which plays a vital role in achieving thedesired outcomes of the company. The bonus scheme is developed by considering the wide rangeof factors which are affecting the performance of the company. There are various problemswhich are associated with the bonus scheme such as ineffectively of the scheme on improvingthe performance of the company, improper team management, poor customer service,demotivated employees and others.ProblemThe aim of the bonus scheme is to provide benefits to the employees but the issue is that theemployees are getting fixed bonus and their work pressure and achievements are higher than thebonus received by the employees per year due to which employees are demotivated whichimpacts on the organizational performance. Other problems related to the bonus scheme includeineffective bonus scheme, the poor performance of the company and others.Proposed solutionAccording to the researchers, it is stated that the bonus system should motivate the employeewho improves the job satisfaction and security within the particular time period and it improvesthe retention rate of the employees (Nido, et al., 2015). The solution to the problem is that thecompany must start performance-based bonus in order to motivate and satisfy the employee bypaying them on the basis of their performance within the specific time period. According to the
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