Managers struggle to keep employees engaged throughout the year, and hearing the hype about recognition programs, they often default to awarding annual bonuses.

But are these perks enough to keep employees engaged year-round? Are year-end bonuses timely enough to boost motivation consistently?

The short answer is no. Here are some major downfalls of the year-end bonus and why you should ditch it for a more modern rewards systems that actually works:

This generation’s growing need for instant gratification virtually means any wait for a reward automatically makes the reward feel less relevant.

The Pew Research Center recently conducted a study to predict the millennial impact of living a hyperconnected life. Results showed that such networked living will drive a thirst for instant gratification and lack of patience.

Because of this, the younger workforce will be less likely to respond to delayed rewards in the workplace, making year-end bonuses feel unfulfilling. More alarmingly, you’ve got a bunch of money going out at the end of the year having minimal impact on performance.

Let’s say an employee stays late every night one week in April to save a major project. As a manager, you want to recognize his efforts, so maybe you thank him and make a note of that for when the time comes for year-end bonuses. The problem is, by December, that project might be a vague memory for the employee, and while he might be happy to receive a hearty check, the significance in reward for the specific event is lost.