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Year End Bonuses This Year?

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Old November 27th, 2012, 02:10 PM   #1 (permalink)
Robert Young Robert Young is offline
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Default Year End Bonuses This Year?

I asked this last year, but is nearing that time of year again. Are you planning on giving bonuses to your employees this year?

Last year we gave cash bonuses to ours but am considering actual gifts this year... but I guess cash is king, just so impersonal.
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Old November 27th, 2012, 04:08 PM   #2 (permalink)
Prosperi-Tees Prosperi-Tees is offline
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Default Re: Year End Bonuses This Year?

When I was an employee of any company cash was always preferred.
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Old November 27th, 2012, 06:11 PM   #3 (permalink)
Gilligan Gilligan is offline
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Default Re: Year End Bonuses This Year?

Cash is better for bonuses... but if you want to give a gift on TOP of that, then that would be more personal.

I'm doing that with one of my employees this year. It doesn't really reflect his bonus, it's in addition to.

I also feel cash is very impersonal, but for a "bonus" it is the right move I think. Gifts on the side should be thought out.
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Old November 27th, 2012, 06:56 PM   #4 (permalink)
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Default Re: Year End Bonuses This Year?

Yeah no spools of thread or squeegees!!! lol.
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Old November 28th, 2012, 06:30 AM   #5 (permalink)
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Default Re: Year End Bonuses This Year?

We don't give cash. We do presents, and through the year music concerts, dinners, movies, fishing trips etc. That builds team and culture. Regards pay, flat rate, top industry rates and get the best you can find. Give them nice facilities, nice kitchen, toilets, furnishings etc. But make any bonus reliant on profitability and make it a surprise. They will remember a trip or experience well after they've blown a cash bonus.
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Old November 29th, 2012, 07:10 AM   #6 (permalink)
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Default Re: Year End Bonuses This Year?

What do you base the amount of the bonus on?
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Old November 29th, 2012, 08:18 AM   #7 (permalink)
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Talking Re: Year End Bonuses This Year?

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Originally Posted by Prosperi-Tees View Post
Yeah no spools of thread or squeegees!!! lol.
and I have all these boxes of bobbins I was SOOOO excited to give them!.. no huh? but the expressions on their faces could be Priceless!
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Old November 29th, 2012, 08:25 AM   #8 (permalink)
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Default Re: Year End Bonuses This Year?

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What do you base the amount of the bonus on?
For us we would look at the available cash on hand Dec 15th... and split it based on number of years served? So if the money was there and we mathematically determined we could afford $50 per year,, then someone who has been here 5 years would get $250. etc. More on better years of course and several years there really was nothing left over as we downsized and took draws off lines of credit.

But I think as long as they knew that they were ok with it, keeping them informed on the health of the business made them work harder when needed and expect more when warranted.

Of course that Dec 15th number is after we have stockpiled our nuts for the winter months and all bills are current, etc...
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Old November 29th, 2012, 09:31 AM   #9 (permalink)
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Default Re: Year End Bonuses This Year?

I see. I only have one employee and while they sometime try hard to meet expectations they often shoot theirself in the foot with screwed up garments and time off that they think they are owed. Is this a problem everyone deals with or am I just a pushover?
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Old November 29th, 2012, 10:23 AM   #10 (permalink)
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Default Re: Year End Bonuses This Year?

ha, no I haven't met one yet that felt they were valued enough or paid enough...
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