Do You Give A X-mas Bonus, How Much

Ron The Plumber

Bonus checks?

Gordo

Bonuses are given throughout the year based on performance.

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Looks like some pros were here.

dougchips

Two years ago $1000 for full time and $500 for part time
Last year $0000.00
This year $0000.00

Need money for x-mas get a x-mas club account.

My way of saying thank you for a good year is making sure that their checks clear every week and finding enough work to keep them busy.

mdshunk

No.

Christmas bonuses are given by employers who feel guilty around the holidays for how little they've paid their employees all year.

Mike Finley

What do you guys think of a matching plan?

For instance every pay check an employee is with you, you take out $10.00 and match it with $10.00.

52 weeks = $1040.00 in his fund.

Dec 15th employee gets a "self-created" Christmas bonus check for $520.00 (his money back).

May 15th employee gets a check for $520.00 (your money) only if he is still employed up to May 15th.

Positives are two-fold, the employee gets some extra money at Christmas, employee has an incentive to stick it out till May 15th through maybe a slow period.

Richard

so true...

I used to think of it like this ....bonus = "bone us"

When I was a FOREMAN! in a company I got a 'leatherman' knife and a merry x-mas.....I wont lie, I was happy to get something, but how about my fair share.(I made 16, he charged 40 per man- )




Mike...I think that's a good idea, I like incentive policies.....guys like that stuff, it keeps them around

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Rich

mdshunk

I put Christman bonuses in the same category as nickel and dime per hour raises. When I was an employee, I saw both as a slap in the face. Same with a free ham or turkey for Thanksgiving. Pay me right, and I'll buy my own turkey and my own stinking Christmas preasants.

Ron The Plumber

Should have called this thread

Scrooge Yes or No

So glad I live on the West Coast, we are nicer over here.

I get a bonus and get paid high dollar all year long.

mdshunk

Showoff.

No, not scrooge at all. I never recieved Christmas bonuses in the spirit in which they may have been intended. That causes me to not give them, lest anyone else feel as I once did.

plazaman

yea, $100 Cash to each, half day work, few drinks.... they make me money all year round.. why not.

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Westchester Remodeling Contractor
Hartsdale Remodeling Contractor
Ardsley Remodeling Contractor

Gordo

I was feeling that way when I responded to your post (scrooge).

Then I thought, my guy gets bonuses all year long and his retirement funded at the end of each year.

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Looks like some pros were here.

Joshua

We don't do Christmas bonuses. We do, however, have monthly incentives based on measurable performance standards. We have a yearly safety bonus (normally paid out before Christmas) which is basically money we budgeted but didn't have to spend on insurance premiums.

dougchips

I generally do some "field trips" during the year for my subs and these cost me money. We have a once a year fishing trip and attend a few trade shows. I take my sales guy on all expense trips. My current offer is "self generate leads and sell 100 windows before December 31 and you get an all expense (excluding gambling) trip to Vegas, sell 200 and you can bring your spouse, sell 300 and you get $1000 is spending money"<-------If they have ambition, they can work for their own bonus.

joasis

You are not allowed by law to ever with hold anything from an employee's check, except 401's, FICA,State, etc. There was a story here a few years back about a guy who managed his employee's savings plans...he took 5% of their pay, if they wanted in the self funded plan, and matched it 2 for one (he put in $10 for their $5) and invested. Now get this: He did this for 25 years, everyone of his guys loved it..they got a statement saying how much they had every quarter...several had half a million. So what went wrong? An ex-wife wanted a share of her hubby's retirement and her lawyer squealed to the feds about his system. Broke this guy...the feds returned all the employees money (contributions) and kept all the matched money and interest and profit for fines and penalties since the plan was "illegal", ran the guy out of business, and into bankruptcy...and this guy really just tried to create a savings and reward vehicle for his guys....

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dirt diggler

That sounds like a parody of Enron

"keep your enemies close, your friends closer --- and by God --- sit on top of that ex wife"

Mike Finley

I'll have to get an update for my accountant to see if something has changed to make this illegal.

We had just such a system in place back in the 90s. It was an awesome tactic. The salesman loved it because December was always a crappy sales month so having a couple of thousand bucks coming their way really helped them out. Plus management really liked it because it gave them time to keep somebody on the fence from jumping ship until it got busy again in the spring since they knew if they left they were giving up another couple of grand. What usually happened was they were told, hey, you're only 3 weeks away from getting your bonus, just stick it out until at least then. Most of the time, that was enough to keep them there for another season, almost always between then and thier bonus they would close a big deal and forget all about leaving, then after the bonus time things would pick up anyways and they would be there for a whole new cycle.

joasis

I still watch the trucking business, and I am amazed at the amount of money companies front to get drivers....$1000 up to $5000 signing bonuses...kinda like the military...and just like the service, they get the bonus in increments.

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Melissa

We gave a Christmas bonus last year of $500 to our 1 guy. He's no longer with us, and we don't have any regular guys right now. Even if we did I don't think we would give one, then they just expect it the next year and even more $$$...


I don't agree with this. I heard that on the East Coast, come Christmas time, they leave tips for the garbage man, mailman, etc. I don't think most people on the West Coast even think of doing something like this unless they want something in return, in which case we always give a beer to the garbage man!

Debookkeeper

Yep - alot of people do that. Not me

I have always received nice bonuses. My birthday is Saturday - and my Hvac guy and his wife went on vacation for 3 weeks. Before they left they gave me a card with $100 in it, and a 100.00 gift card to Kohls. Two Xmas's ago - I got a 1 week vacation stay out on my bosses Island house. That was heaven! I never expect anything - if you are always expecting , you are always disappointed!

mdshunk

I worked at a company that had a "savings and thrift" plan. It was set up through a local bank, and the paperwork you signed to enter that plan was actually bank paperwork with an authorization for the employer to direct deposit X amount into that bank account. The actual plan was managed by the bank. The employer was essentially out of the loop, except for shuffling the money over. Anyone at all can deposit money in another's bank account if you know the account number, which is how the employer was able to add to the account on his own.