Season 02 Episode 05: Should You Pay a Year End Bonus?

Should you pay a year end bonus and give your employees extra? We expect certain results from the people we hire, and we pay them a salary for those results. Not for their time. Not for their experience. We can give them a bonus for just the simple joy of giving a gift or we can give them a bonus based on their individual results/ extra work. Making payment commitments to employees is a serious decision to make and should be greatly considered. A gift can turn into an expectation for your employees and a headache for you. No matter how you decide to pay your people it is an important thing to consider. What You'll Find in This Episode: 1. Having a consistent payment philosophy is key. 2. Bonuses are extra pay for extra results (or they’re gifts). 3. Paying a bonus out over a year is a good way to ensure that the bonus won’t be wasted.