 One should be aware that salary or wages (payment for the work) may be accompanied by bonuses, which are given either to the individual worker for his/her individual accomplishments or to the team or the whole firm/company. Moreover, bonuses can be presented both as financial awards and as non-cash rewards. If you are interested whether or not your perspective positions presupposes any bonus programs, you should ask that an interviewer after he/she has raised a question of salary. If this issue is of no significant importance to you, you should be knowledgeable about what kinds of bonuses there exist anyway.
Current Profit Sharing
According to this bonus program, a company predetermines certain percentage from the pay-roll (from 2.5 up to 15 per cent) as an addition to the main salary. Company’s overall profitability or the outstanding progress of one of the firm’s professional groups determines the bonus. This award is designed to make the employees realize the importance and necessity of their good work and how it can contribute to the general improvement of the company’s performance.
Gain Sharing
The application of this bonus program is prevalent mostly at the manufacturing plants, where workers are encouraged to hold responsibility for the quality and quantity of their work. The bonus is given as a reward for the personal productivity of a worker. It may be quite helpful in making the employees get interested in the excellent performance of their duties as well as in the increase of the companies productivity.
Milestone Bonus
This kind of reward is also named a mission bonus or a task bonus and is awarded to a team of workers for successfully finishing a project and meeting a deadline. Although the bonus program concentrates on encouraging employees work quickly and efficiently, often quality requirements are set to prevent the participants concentrate exclusively on the speed. This kind of award is worth mentioning in your resume.
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