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Not a lot of rewards beat cold, hard cash, and despite cash bonuses not being as common as they used to be a couple of years ago, workers still want cash in their bonus package. In fact, a Wall Street Journal FINS survey revealed that 50 per cent of 781 respondents said they’d even turn down their dream job if there wasn’t a chance that they could receive cash bonuses. Even if the company offered stocks instead.
Kelly Eggers at FINS writes says that turning down a dream job in these economic times might “not be be worth the risk.” She says:
“Turning down a dream job over a bonus may not be a good idea in today’s pay environment. Getting a bonus at all has become less common. While 60 per cent of employers offered bonuses to executives in 2007, only 50 per cent did last year, according to a 2011 survey from the Society of Human Resource Managers. The percentage of non-exec employees offered incentive-based compensation fell to 43 per cent from 47 per cent between 2011 and 2007, said the report, which surveyed 600 HR professionals.
“Employee bonuses usually are a combination of cash, restricted stock and unrestricted stock, said Brent Longnecker, chief executive of Texas-based compensation consultancy Longnecker and Associates. Employers try to retain employees longer by paying bonuses in restricted stock and implementing clawback clauses.”
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