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Job Media
13-08-2014, 11:50 AM
Interesting article from the AFR.

Most Australian employers, from big banks to other listed companies, are failing to get much “bang for their buck” when it comes to staff bonuses, new research has found.

PwC has found most bonus schemes are too complex, rely on too much managerial discretion and are based on the performance of too many people to work effectively.

PwC released its report What are You Really Paying For? Improving Return on Reward Investment on Wednesday.

The report is based on a survey of more than 1000 Australian employees and reveals employees require up to 18 per cent higher pay if pay is uncertain or ambiguous.

They are not motivated by team bonuses if the team size exceeds five, or if team members are unfamiliar to them, the report says.

Read the full AFR article (http://www.afr.com/p/national/work_space/why_australian_bonuses_are_broken_6JBz0G9tVy26Z8Gl w68LmI)

Read the full PwC bonus scheme report (http://www.afr.com/rw/2009-2014/AFR/2014/08/12/Photos/8ed8a8e4-226c-11e4-b7ba-c891b2577a15_Optimising%20Reward%20Final%20Publica tion.pdf)