Today we are joined by Laura Probert, CPO at Egress.

Takeaways

Bonuses are not effective motivators of performance, as evidenced by research and studies.

Removing bonuses from the compensation structure can lead to improved performance and a more engaged workforce.

It is important to communicate the reasons for removing bonuses and address any concerns or objections from employees.

Performance management mechanisms, such as clear goals and regular feedback, are crucial when bonuses are removed.

Certain industries, like banking and finance, may be resistant to removing bonuses due to their ingrained bonus culture.

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