🎉 Surviving the merry-go-round of Bonus Season 🎉
We’re entering an exciting phase of the year, where after 12 months hard graft, bonuses are confirmed, well-earned rewards are paid, and, inevitably, people jump ship for ‘better’ opportunities.
So here’s my guide to best capitalise on this busy time of year – HINT, it’s not all about cold hard cash!
Candidates -
🏆 Got the bonus you wanted? Great! Well done! Now is a perfect time to capitalise on your recent success. As someone who is seen as a valuable member of the team, use this period to have a 1-2-1 with your manager and set goals for the next 12 months. Communicating what you want to achieve, what learning opportunities you want, and where you see yourself in 12 months will help avoid disappointment down the line.
👎 Not got the bonus you wanted? Sorry to hear that! It’s still a great time to explore why this may have been. Company or divisional performance may be to blame, but it’s best to have an open conversation with management on all the reasons why. Things may be looking very different in 6-12 months’ time. They also may not, but at least you’ll know. Again, now is a great opportunity to state what you hope to achieve in the coming year, and really understand if your current employer can accommodate what you want from your career.
Employers -
📈 Brace yourself! This can be quite a nervous time. However, clear communication with employees about up-coming opportunities, exciting new projects and how you see your individuals fitting in to this will help keep good people.
🤝 Recognise your people (and not just the top performers) – A recent study showed 82% of employees wished they received more recognition for their work, and 1 in 3 employees said they would leave their current job for a company that offered more recognition.
🚀 Set progressive but realistic milestones on future performance. Good people relish a challenge, and often respond in kind if supported correctly.
So, although there is often quite a merry-go-round of leavers and joiners at this time of year, it can be successfully negotiated if you take the right approach.
If not, I’m here for all your technology & business change recruitment needs. Candidates and companies alike!
Contact me at Steve.Rapetti@William-Alexander.com for an informal chat or any questions you may have.
Chief Operating Officer
1moAwesome job serving your customers while also driving great shareholder value!