Bonus

What is Bonus ?

  
‘Bonus’ is a financial stimulus provided to employees over their normal payroll. A bonus is different from a ‘benefit’ in the sense that it is always provided as money. Bonuses are generally awarded during festival periods to please the employees.
 
It might be awarded to both senior-level executives as well as entry-level employees. It might also be advertised as an incentive for candidates to join the company.
 
Sometimes, bonuses are also awarded to the shareholders in case the company performs well. Similarly, long term employees might also be given bonuses for their prolonged loyalty to the company.

More HR Terms

Benefits Administration

What is Benefits Administration ? ‘Benefits Administration’ is the process of managing the benefits for the employees. It is a labour-intensive task as HR needs

Internship

What is an Internship?   ‘Internship’ refers to the employment programs offered by companies for students and freshers who wish to gain hands-on experience with

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