Having a big bonus can actually be very bad for your health, according to study.
One study found that while performance-related bonuses are good at keeping workers motivated, they can lead to the effects of overwork.
While we all say that there are more important things than money, there is nothing like getting a bonus at work.
The tactic of encouraging workers to strive more by rewarding productivity with money has become increasingly more common and is a solid scheme because everyone likes money.
But researchers at the University of East Anglia’s Norwich Business School fear that this bonus-hunting culture may be damaging to our well-being.
A total of 1293 supervisors and 13657 employees in 1293 different workplaces in the UK were interviewed about the common types of bonuses that companies give their employees – performance-related payments and profit-related payments.
The research reported in the journal Human Resource Management that performance-related bonuses motivate workers and also increase their sense of job satisfaction.
Unfortunately, the finding revealed that there was a link between bonuses and intense work patterns that can lead to stress in the workplace and result in health problems.
In fact, the responsible researchers went so far as to suggest that bonuses are a form of exploitation, pushing workers beyond their limits for the benefit of the company.
“By linking workers’ performance to financial incentives, employees send signals to employers about their intention to reward extra work effort with more money. Employees in turn receive these signals and feel compelled to work harder,” said the author of the study, Dr. Chidiebere Ogbonnaya.
“Although employees value these gains, ultimately the benefit is for the company. ”
The study also found that bonuses also have to be seen as fair, otherwise they will do more harm than good. When only a few people get bonuses for performance, morale at work and relationships with bosses are damaged.
The lesson seems to be that both employers and employees have to think hard about bonuses and whether they are a positive encouragement to get out of bed on a Monday morning, or just a shortcut to exhaustion.
Will people give up the extra money even knowing the consequences?
A 2010 study by Kou Murayama and Kenji Matsumoto of the University of California and the University of Tokyo found that money motivates people to work harder but at the same time reduces their intrinsic motivation to do their job.