A holiday bonus is a traditional gift given to employees by employers each year as a big “thank you.” Many managers and business owners want to give their hard-working employees a bonus at the end of the year. The unfortunate truth is that many cannot afford it in today’s economy. As a result, many companies have had to get creative by offering their employees something enticing that is not a cash bonus. The experts at Optimum Employer Solutions have gathered together some of the best non-traditional holiday bonus ideas we have run across to help inspire you this season.
When the holidays come around, the first thing you need to do is assess and determine if you can afford a cash bonus. For many business owners, this is a viable option during lucrative years, but in lean times it is not. If your company is unable to give an expected cash bonus to each employee, try your best to let employees know as early in the year as possible. Many employees who believe they are getting a bonus count on it and factor it into their household budget as part of their yearly earnings. Though you should let them know it is not going to happen this year, be sure to follow it up with a positive spin. By sharing this information in a timely manner and followed up with something positive, you will help soothe hard feelings.
If you need help determining if you can offer new benefits or a cash bonus this holiday season, speak with your experienced and knowledgeable HR representative at Optimum today.
Encouraging Creativity Sometimes the daily grind can take a toll on all of us, leading to a state of shutdown where we go on autopilot. This often occurs during the winter months, making it vital to reenergize ourselves and our staff. Here are a few ways to foster creativity and encourage idea generation among your…
Continue Reading
What’s the deal with performance reviews? As a business owner, you understand the importance of recruiting the best staff. As a leader, you want your team to perform at their highest level. Many of you likely use performance reviews to evaluate your employees’ work, efficiency, and morale on a quarterly or annual basis. If you’re…
Continue Reading
Peer Recognition Programs Rising in Popularity Recognizing employees for their achievements is essential, and you likely already understand this. Recently, many companies have introduced peer-to-peer recognition programs. But what exactly is a peer-to-peer recognition program? It is a system that allows employees to praise their colleagues for their hard work. This kind of recognition not…
Continue Reading