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My husband has worked for 2 (large high tech) companies that distribute performance based bonuses. One was distributed in September... this one... not sure actually, it has been tied into his monthly paycheck...
You're wonderful for thinking of this... I want to work for you!
I think it's a great idea to distribute them beforehand, if they're big enough to make a huge difference.. I mean like, corporate bonuses are large enough to do remodels or book vacations (or invest). I got a bonus when I worked at a bakery in college...we also got it at the holiday party, but it wasn't very much... just a couple hundred extra.. enough to go Christmas shopping, but not enough to do some serious planning with. I think the more you give, the more consideration you ought to give to the time of year.. if it's enough to travel on, then maybe earlier is better.
Curious who's getting them and what you are expecting?
Last year, my first year in business, every employee received a check equal to their average check for the year.
I gave them out the last day of work which is the day before Christmas Eve. Is it a better idea to do this a few days before maybe Friday before so they have time to use it on Xmas so does it really matter they should just be happy they are getting a bonus?
This is a hard problem to solve. Very nice of you to give a bonus to each employee but over the years it will probably seem like part of the salary as opposed to a bonus. I think I would redo the bonus program for next year.
Consider the one weeks pay as just part of the cost of the employee. Not a bonus. Ok to give them out when you did. But I would tell the employes about the 1st of December that we are having a good year and you will be able to give everyone a weeks pay to help with Xmas bills. The reasoning I said we are having a good year is you might not be able to afford the bonus some years and you do not want then to expect it as an automatic payment and spend it before you tell them they will get it.
Then consider if you need a bonus plan that pays significant dollars for some employee. Do not consider it as part of the one weeks pay plan.
For example you could have a sales force that you paid a good base salary but a high bonus at year end based on sales. The base salary may not change each year but if sales are going up their compensation should. The idea is you want to reward for performance more than time in the job or just showing up for work.
Many years ago the owner of my company gave everyone $500 and announced at at the Christmas party. His hand hurt for weeks with every one shaking it. Next year it was $1,000 and the crowd went nuts. The year after it was $1,000 and he was almost booed. Nice gesture at the holidays but some are never satisfied.
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