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10 Things You Need to Tell Your Employees About This Year’s Bonus

Started by Frank · 7 months ago

Bonus season will be upon us soon, and for many there is going to be a lump of coal in their stocking. With that in mind, what do you say to your employees who expected economic exhilaration and burgeoning bonuses to go on forever in some kind of perpetual motion machine? How do you let [... ... Continue reading »

4 comments

  • jtramsay

    7 months ago

    Insert choice lines from National Lampoon's Christmas Vacation here.
    reply
  • lruettimann

    7 months ago

    There’s no hidden money; there’s no slush fund that someone else got.

    I can't tell you how many times that slush fund has been referenced in my discussions with employees. Many don't trust that their executive management team is also paid for performance.
    reply
  • Ron Ulrici

    7 months ago

    You bring up the downsides of Bonus Programs. They only work when times are good and then they don't work as a motivator, just as an expensive "thank-you."
    Even when employees know that the company is hurting, they still expect their bonuses.
    reply
  • Jason Seiden

    7 months ago

    Good to know I'm giving good advice... or at least, I'm not the only one giving *this* advice.

    I find mgmt often has a tough time communicating #1. There is a fear of acknowledging that some people work better than others... Ironically, I don't often see lasting negative effects at the employee level. Since school—when GPAs were openly published—they've learned to deal with forced rankings. Even many of the Gen Ys I work with who didn't get that stuff in school CRAVE honest feedback in the workplace.

    So managers, the faster you can develop the courage to tell it like it is, the more trust you'll engender and the easier it'll be to manage through the tough times.
    reply

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