It is bonus time for most companies, and for those companies that have bonuses built in to their compensation plans, it is a relatively easy task to complete. But for those businesses that don’t have a plan in place, or a small business with limited resources, the question is what to do? Well, according to business2community.com, you should not neglect to reward your employees for the hard work throughout the year. If cash bonuses are not an option, here are five good alternatives:
1. Gift Cards-ones that are practical and can be used by all.
2. Additional time off. If not cash, then extra vacation time is always appreciated.
3. Personal development opportunities. Such as a class or a seminar, a trade show or a conference.
4. Tailored personal gifts. Gifts like golf balls for a golfer, additional time off for a new Mom, or cigars for an aficionado.
5. Career coaching from a professional career councilor. A few hours for your employee to focus on their career path with someone who can give them the right resources.
At Managepoint, we can help you with these type of Human Resources questions, as well as be your full service Human Resources Department. Call us today to find out how we can do your payroll, benefits, training and administrative strategy, so you can do business better.