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Benefits packages and overall compensation have become the No. 1 and 2 considerations for respondents of the Network World Salary Survey when rating job satisfaction factors "critical" and "very important" (see chart, below). For the first time in two years, this means "challenge of work" has not taken the top spot. Clearly, insurance, bonuses, stock options and other types of compensation are becoming highly important again. If pay raises must limp along at less than 6% on average, then workers are looking for help with their cost-of-living expenses (such as medical). They're also eyeing that 8.2% average bonus increase to keep them happy.
When it comes to bonuses some titles were less rewarded, as were workers in some regions. Help desk trainers' bonuses fell 20.5%, bringing the total they expect in 2004 to a mere $620. Software and Web programmers expect to see their bonuses decrease 5.3% to $2,330. Regionally, companies in the Southwest remained stingiest with bonuses, rolling them back 9.2% to $2,650.
But areas of the country that are rebounding economically - New England, the West, the Mid-Atlantic - are planning to dish out decent bonus increases overall. The largest companies will grant the biggest bonuses, and, not surprisingly, employees who work the most hours expect to reap the best bonuses, too.
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Just because your company has a bonus program, don't assume your staff knows how to make the most of it. These tips can help your employees get better bonuses.
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