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Message
re: Update: Christmas Bonuses
Posted on 11/29/18 at 3:00 pm to CHiPs25
Posted on 11/29/18 at 3:00 pm to CHiPs25
You just have to suck it up and pay it this year. It will be considered a total dick move if you cut them now without warning. Sorry but it's true.
Starting as early as possible in 2019. You have to have a heart to heart with those that get the higher bonuses. Share the dilemma with them and tell them you need their help to mentor the younger employees and then you can all work together to grow your business and thus potentially their bonuses. That being said you really need to switch over to performance based bonuses. For instance a bonus based on revenue growth, a bonus for lowering COGS as a % of sales, customer satisfaction, etc.
Read the book The Great Game of Business.
Starting as early as possible in 2019. You have to have a heart to heart with those that get the higher bonuses. Share the dilemma with them and tell them you need their help to mentor the younger employees and then you can all work together to grow your business and thus potentially their bonuses. That being said you really need to switch over to performance based bonuses. For instance a bonus based on revenue growth, a bonus for lowering COGS as a % of sales, customer satisfaction, etc.
Read the book The Great Game of Business.
2
Posted on 11/29/18 at 3:41 pm to ConfusedHawgInMO
quote:
hat being said you really need to switch over to performance based bonuses. For instance a bonus based on revenue growth, a bonus for lowering COGS as a % of sales, customer satisfaction, etc.
In this scenario, don't the salesmen basically get all the bonuses?
Personally, I think salary should be the performance indicator and bonuses should be equal across the board.
A $3000 bonus may not mean anything to the director of sales, but to the receptionist it may mean paying off the car note.
Posted on 11/29/18 at 4:48 pm to ConfusedHawgInMO
quote:
You just have to suck it up and pay it this year. It will be considered a total dick move if you cut them now without warning. Sorry but it's true.
Yep. It's too late in the game to tell them Christmas bonuses will be scaled back this year.
My wife's company scaled them back a few years ago and just decided not to tell the employees. Lot of pissed off people when they opened the checks, and since my wife was in management(not involved in bonus decision) she caught hell over it. That Christmas SUCKED in the Spleen home having to talk her down every night after dealing with pissed, unmotivated employees all day.
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