Bonuses Still Favored For Incentive Programs

February 18, 2005 ( - Cash bonuses are still the most preferred form of incentive at work, according to a new study by Accountemps.

Forty-six percent of CFOs polled found that bonuses were the most effective way of rewarding a team after major projects, according to a press release from Accountemps. Seventeen percent said that time off was the best incentive, while 16% said that a departmental lunch or social gathering was their leading incentive choice.

For some unlucky workers, no rewards would be presenting themselves anytime soon: 15% of CFOs do not reward teams after the completion of a big project.

“When budgets are tight, non-monetary perks such as time off or a departmental celebration can be valuable tools to acknowledge staff accomplishments on a major project,” said Max Messmer, chairman of Accountemps, in the press release. “But employees also expect financial compensation for their efforts, which can be an effective retention tool.”

The survey was conducted with responses from over 1,400 CFOs in companies with more than 20 employees by Accountemps , a staffing service for temporary accounting, finance and bookkeeping professionals.