Why Do We Need Bonuses?
Every company’s goal is to increase the sales and reach out to potential customers. And the best way to do it is to motivate the employees. They are the main reason the business functions and they contribute to the company’s success to a big extent. But in order to achieve the success, the employees need to stay motivated and satisfied.
And the best way to keep their morale high is to implement bonuses. And bonuses have different forms, such as sales shares bonuses, profitability-based bonuses, non-monetary (e.g. tickets for sports events, to the theaters and other happenings). But they always keep the employees satisfied and give them the feeling that their work is important and valued. Thus, the reason for bonuses is to keep the staff member motivated. And when the people working in the company are motivated, the company’s success boosts.
How To Calculate Productivity?
What is productivity, how can you calculate it, and what does it have in common with motivational bonuses? To answer the first two questions, let’s take a look at the definition provided by Investopedia:
Productivity measures the efficiency of a company's production process. It is calculated by dividing the outputs produced by a company by the inputs used in its production process.
So how to measure the productivity of company’s employees in an easy way? This is where time tracking software comes in aid. Such software tracks work hours spent on the device. It follows every activity of the user and keeps the record of it. It shows detailed reports in work and how many hours were spent on particular tasks and projects. Additionally, the computer activities are separated into productive and non-productive. This allows to eliminate the distractions and improve employees’ efficiency.
And here comes the answer to the third question. What does productivity have in common with motivational bonuses? Time tracking software helps to improve productivity. And when the productivity is better, the bigger is the chance for bonuses. And so is the employee’s motivation. With the good motivation of the staff, the company is closer to success.
Motivation, Bonuses, and TimeCamp
You can try to measure your employee’s productivity by special calculations but isn’t it a bit too old-fashioned? Instead, you should use the modern solution which can do everything for you – TimeCamp.
TimeCamp is a time tracking software which follows the activities of the user. It is a great solution for larger companies which need to manage tasks and projects of the employees. The app measures the productivity and it serves as the basis to pay bonuses.
To establish a way of honoring your employees with bonuses, you first need to implement a time tracking system. And TimeCamp is the best solution to that problem. Start using TimeCamp today to motivate your employees with bonuses for their work.
Register today here and always stay motivated with TimeCamp!