Word: bonus
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...Bonus available to some Army recruits who enlist and ship...
Almost half of all U.S. companies have already suspended or are actively considering suspending bonus and incentive pay this year, according to a survey by WorldatWork, an association of human-resources professionals based in Scottsdale, Ariz. Such "non-salary compensation" represents a far bigger share of total pay for workers at practically all levels than ever before, increasing nearly threefold since the last time the U.S. economy was in a slump this deep...
There are other drawbacks to variable pay. A fair number of performance-bonus plans are structured so that at least part of the money has to be paid out to employees as long as they meet their individual or departmental goals, regardless of how the company fares as a whole. You can bet shareholders will have some questions about those charges at the end of this year. Also, variable pay, by its very nature, puts a much higher premium on a company's ability to monitor and track the progress of its workers as well as communicate with them, which...
Most important, and perhaps ironic, a downturn in the bonus economy could cause a wider ripple effect than traditional layoffs. "The pain is now spread through more people in the company," notes Steven Gross, a compensation expert with the firm William M. Mercer consulting. "The drop in bonus pay will have an effect on consumer spending. And it could be dramatic." Just how dramatic? Thanks to cutbacks in variable pay, personal income in the first quarter of next year could drop as much as $30 billion, according to a study by economist John Youngdahl of Goldman Sachs...
...Then mix it up - some concrete news, a visible, tangible step, a man we can turn to and Bush can delegate to. And as a bonus, a man who centrist, politics-watching America has been rooting for a long time to get a promotion. Tom Ridge, former Marine, former congressman, soon-to-be former governor of Pennsylvania, and the new Cabinet-level Head of the Office of Homeland Security...