Guest Milky14 Posted November 1, 1999 Posted November 1, 1999 Anyone know of any formulas used to calculate end of year bonuses? Any original ideas for "gifts", etc. would be appreciated.
Sheila K Posted November 2, 1999 Posted November 2, 1999 I usually tell my boss that 100% of annual salary is always a good way to go!!! Seriously, we have done several things here besides just a percentage of salary. We tend to reward longevity, so for several years, we have paid bonuses based on number of service years. Last year, it was $100/year of service. This will depend a lot on what kind of money you're wanting to give out and your industry. Give us a little more information and let's see what these creative minds can come up with. ------------------ Good Luck!!! Sheila K 8^) [This message has been edited by Sheila K (edited 11-02-1999).] Sheila K 8^)
Guest Milky14 Posted November 2, 1999 Posted November 2, 1999 Well, we're a start up company- this New Year's marks one year in business in NY. So our employees are no more than a year with us While your suggestion would be inexpensive, I'm not sure it would be appreciated. Our employees all give over 100% and we recently became a publicly traded (Internet) company so morale is very high. I would appreciate any creative ideas!
Guest nb Posted November 2, 1999 Posted November 2, 1999 milky, how about stock options? Tie them to a length of service requirement and you can have a little leverage in keeping your workforce.
Guest Milky14 Posted November 3, 1999 Posted November 3, 1999 Thanks, but all employees receive generous stock options; 3 year vesting. I need some other type of bonus- I was thinking of Mastercard vouchers for use in any store. What do you think?
Sheila K Posted November 3, 1999 Posted November 3, 1999 Milky: Okay, now that we know what we're dealing with....I like the MasterCard voucher thing. Can you get "Smart Cards" from them? I know that Visa offers a smart card gift certificate type of thing. So does Blockbuster Video, Sears and a variety of other merchants. If your employees have a local favorite restaurant, you might consider gift certificates there. Maybe something like a Harry & David fruit of the month? They'll be getting something all year long then. There are also companies that do monthly flower delivery, monthly beer delivery and I'm sure a variety of others. I think it's nice to "spread out" the gift like that. A constant reminder that their employer thinks highly of them! How about the new "Flooz" Internet currency? If they're all PC literate and using the Internet, let them spend it online. Flooz.com will give you information regarding this. I like Flooz because you can even use it to pay the shipping! ------------------ Good Luck!!! Sheila K 8^) Sheila K 8^)
Guest ScottN Posted November 4, 1999 Posted November 4, 1999 Our firm is relatively small but this year we are doing two things. First we are having lunch at a very nice restaurant located next to a very nice mall. After lunch, we are giving gift certificates that are good in any store in the mall and they get the afternoon off to go use them. Second, we are providing rooms and dinner at a very nice hotel in downtown Denver for employees and spouses. We can walk to local establishments providing "spirits" and therefore eliminate the driving issue.
Sheila K Posted November 4, 1999 Posted November 4, 1999 I sit on the board of a non-profit association. At our meeting yesterday, one of the other board members discussed their holiday festivities. It could be done in conjunction with Scott's suggestion as well. The company (a large credit card bank) rented a banquet room at a hotel close to the mall. After dinner (could just be coffee & dessert), they split up into teams and used their corporate credit card to shop for needy families that their HR department had located through a local charitable organization. They had 2 hours to complete the shopping at the mall, after which they returned to wrap all the presents. If you did coffee/dessert only, you could do that at the wrapping session instead of before. You could also serve the dinner, shop, then return to wrap and have dessert. I thought it was really a neat idea. The company then picked up the tab for the shopping expedition! (They DID have to stay within certain limits!) This would be a fun activity with a "feel-good" bonus as well! ------------------ Good Luck!!! Sheila K 8^) Sheila K 8^)
Guest nb Posted November 5, 1999 Posted November 5, 1999 Hmmmmmmm, I think I need to dust off my resume!! Sounds like some good organizations to work for.
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