It’s the most wonderful time of the year … to be an employee, right?
Christmas Bonuses… What is an owner supposed to do about Christmas bonuses? This is a question that we are often asked around this time of the year, so let’s break down our point of view on Christmas bonuses.
First, we don’t do Christmas bonuses at BCI and it’s not because we are a bunch of scrooges. Instead, we have seen that incentives, often based upon performance, can be a great motivator throughout the year. Every employee should have a bonus plan built for their job role. We have found that a once-a-year bonus doesn’t keep employees motivated all year long. They just view it as a gift. Keep in mind, if you want to give your employees a gift of cash at the holidays, go for it. But, if you are looking to keep employees motivated throughout the entire year, you set up a bonus program based on performance that pays out regularly.
So, what do we do for Christmas at BCI? We play games, have fun and win gift cards. If you simply google Christmas gift card games, you will find a lot of suggestions. We like to have a variety of gift card sources and amounts and find that this makes things even more competitive and fun!
One last reminder – keep your priorities in order! Make sure you are financially able to give out cash “gifts”. Your first priority is to yourself as an owner and to the financial stability of your business. Take a step back and consider what you are truly able to do and not what you simply “feel” you should do.
Wishing you all a strong finish to 2016. Merry Christmas!