Have you worked reall hard throughout the year and are wondering will you get a bonus at work. While most people know about things like esi calculation or leave allowances, they never really learn the art of negotiating for a bonus. Well if you think you deserve it you should definitely get it and we’ll show you how to secure your bonus payment with the following steps:
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Patience may be good
If you’re supposed to get a bonus, and it’s not in your paycheck, don’t panic. Don’t call the HR department. First, wait an appropriate amount of time. If you’re supposed to get a bonus with your first paycheck after the end of the quarter in which you earned it, but it isn’t there, wait until at least three days after you were told you’d get it. Sometimes companies need a few days to process bonuses. If you still haven’t received your bonus by then, check with your boss on Monday morning to see if there is any news on when it will come through. Bosses are often busy, so wait until Monday morning. If something comes up before then and your boss has time to talk about it, great. Otherwise, wait until Monday morning unless there’s some urgent reason for doing otherwise.
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Don’t say you need the money
As a general rule of thumb, bonuses are most appreciated when they are least expected. If you have been at your company for less than a year, or if you believe that this is the kind of stingy firm where a bonus would never be forthcoming, asking for one will only work against you. It puts your boss in an awkward position, and it also makes you look greedy—which will not do wonders for your reputation around the office. If you’re in a generous firm that typically gives bonuses to its employees, and especially if you are a star performer, then now might be the time to ask. But make sure that it doesn’t sound like pleading. You want to make it clear that if there is no bonus in your future, you will remain satisfied with your job.
The best time to ask for a bonus is during your annual performance review. You can make a case for yourself as to why you deserve one: Did you meet or exceed expectations this year? Did you take on new responsibilities or save the company money? Did you win any awards? Did something significant happen in your life (like having twins) that made it harder for you to work?
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Don’t assume your boss remembers
Your superior probably has a lot on her plate. She may not remember what she promised you for Christmas. Ask for your bonus three times before the holiday, be sure to remind your boss of what you’ve done to earn it, and deliver it to her in writing.
If you still don’t get anything, ask for a meeting with her and your human resources representative to review your compensation package. Know what’s fair for you by researching salaries at online job-related websites and then making bonus calculation for you so that you know exactly the amount that you should ask for.
Additionally you can generally follow the following steps throughout the year to ensure when the time comes for a bonus you are already being noticed”
1. Focus on results:
This goes beyond goal setting; results also include quality and timeliness of deliverables. Massage your performance objectives into measurable results that can be easily tracked by your boss and others who may have an opinion on your bonus amount.
2. Relationships
Build strong relationships with early influencers, especially those who might disagree with your size-of-bonus assessment. They might be in a position to challenge the amount of reward you are ultimately offered.
3. Communication
Communicate at every opportunity how well you’ve been doing and what you plan to do in the next quarter and year. Don’t wait for performance reviews — they happen too late in the game. In addition, ask for feedback — as often as possible — and act upon it immediately, adjusting course if necessary.
Review How to get a bonus at work.