5 Reasons You Didn’t Get a Bonus This Year (And 5 Ways to Make Next Year Different)

For many, the annual end-of-year bonus can be a source of happiness and a good reward for hard work, not to mention the immediate impact it has on building your wealth. However, when your company does not give you a bonus, you may feel frustrated, disappointed, and self-doubt.

If you're in this situation, it's essential to understand the common reasons why you didn't receive that bonus and take actionable steps to improve your chances of receiving it next year.

Here are five common reasons you didn't get a bonus and five ways to make next year different.

Sometimes, your impact goes unnoticed, especially at a large company with remote workers.

If your contributions are not visible to the executive team and your work fell through the cracks without key metrics showing a significant business impact, it's unlikely that they'll reward you with a bonus. Employers want to reward employees who demonstrate exceptional work, but they aren't always going to know what you've done.

Similarly, you must be your number one advocate for promoting your accomplishments to management. If you just put your head down and did the work, you missed a chance to show your leadership team how much value you added to the company.

You want to ensure that your boss and the rest of the management know what you're getting done.

If you don't meet the established performance metrics for your position or there were some key areas of your job where you fell short of company expectations, it's unlikely that you'll receive a bonus.

Some companies can be vague about their performance expectations, so it's important to clarify this during the hiring process or on an annual basis moving forward.

Due to financing and earnings, many companies simply do not have the capital to pay out bonuses. Many factors come into play when a company decides to pay a bonus to its employees, from a downtrend in the overall market to a missed earnings report.

Even some of the most successful organizations do not always pay out an annual bonus for this reason, particularly if the economy is mired in a recession and there is uncertainty about the future.

Typically, exceptional work gets rewarded with exceptional pay in the form of a bonus, not just the essential duties of the job description. Being good enough at your position does not make you stand out to management.

Additionally, if you did not take on extra projects or responsibilities, you might have missed an opportunity to show your value to upper management.

Here are five changes you can make to increase your chances of getting a bonus at the end of next year. Don't have a bonus on the line? These are good ideas regardless, as they show your commitment and dedication to the company.

Sit down with your boss and map out clear goals and benchmarks for the year. A tangible list of tasks will help you devise a plan to achieve your goals.

Hitting your goals will ultimately prove your hard work, which you can point to at the end of the year when management is considering bonuses.

If you were caught off-guard by the lack of a bonus, speak with your boss and ask for feedback on improving your work.

You must internalize your feedback and apply it to your everyday tasks. If your manager can see you consciously making the improvements, that sends a positive message that you're a good listener and employee.

Invest in your professional development by acquiring new skills, certifications, or knowledge relevant to your role. This can be done outside the company through various courses, or you can branch out within your company and learn other aspects of the business and the skills they require.

Beyond learning new skills within your company, you can work on other big projects that make an impact. Look at your company's overall goals and try to find a project you could work on that's outside of your regular responsibilities. Just make sure you're able to contribute to the project in a meaningful way.

Be a good marketer for yourself and let your company know what you contribute to the bottom line. Remember to share your successes through team meetings, emails, or one-on-one check-ins with your manager.

It's normal to feel disappointed if you didn't get your annual bonus last year.

Channel those feelings into something productive to demonstrate to your employer that you're a high performer and get that bonus this year. You'll be doing better financially and feel more accomplished after making these changes and earning that bonus.