Raises out, bonuses in


Raises out, bonuses in

If you can't give raises to your employees, consider rewarding them in other ways.
Mar 01, 2009

During a recession, raises aren't always realistic. But bonuses are one possible option. Here's how to establish a bonus program of your own:

  • Plan your program on a monthly basis or every other month. Frequent, smaller rewards can help keep team members' morale high.
  • Appoint a team member as Bonus Guru. It takes the program off management's shoulders, and team members respond to a new, enthusiastic voice.
  • Write up the guidelines. Communicate to the staff several weeks before the program starts so players are trained and know how it all works.
  • Keep the bonus program innovative and fun. New Client Month? Health Screening Month? March Madness? Use your imagination. You can see my "March Madness" sample bonus form and guidelines in Related Links below.
  • Make the bonuses about more than money. Especially during financially frustrating times like these, it's important to set goals and try to achieve them rather than lie down and wait for profits to sink.

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