Contemplating how to open this month’s edition yesterday evening, I was interrupted by an especially loud commercial for a magical car scratch kit. At the end of the commercial came the customary, if not required, refrain: “and if you order now we will send you a second bonus kit at no charge!”
Bonuses can be great. Bonuses can also be a pain. What if you pay an employee a bonus on a giant sale and then the customer backs out? Can you get it back? What if you pay a bonus every year out of the kindness of your heart for a job well done and then can’t because business is bad? Can they come after you for it? And how do bonuses affect overtime rates for hourly employees? Ever think of that?
Take a look at this month’s edition “at no charge” to learn how to keep bonuses valuable to your business.