Guidelines for Holiday Bonuses

Corporate Business Solutions is a leading business consulting firm recognized throughout the United States. We offer the critical information that is often necessary for growth in the small and medium – size business marketplace.

If you’re a business owner that is handing out holiday bonuses for the first time, or if you’re just not sure how it should be done, it can be confusing. Here is a general guideline to keep in mind as you go about the process:

1. Establish the type of bonus. Holiday bonuses (or gifts) are different from year-end bonuses. The latter are based upon performance, measured against specific bonus-triggering standards. The former are typically given from the heart by the business owner. If you are truly giving out holiday gifts, either of cash or something else, make sure everyone knows that’s what it is. Don’t call a year-end, performance-based bonus anything but that: a performance bonus. Different rules govern these two types of recognitions.

2. Everyone gets a gift or bonus. If you are doing holiday gifts or bonuses, make sure every employee gets one.

3. Gifts don’t have to be equal, but should be consistent. Giving everyone the same gift, from managers on down, is the easiest course to choose. If you must give tiered gifts, make sure the tiers are clearly delineated: one type for management, another for staff. No favoritism based on any other criteria. Word will get around.

4. You have options besides monetary gifts. If you can’t afford a monetary or alternative type holiday gift, you can always offer employees a day or two off around the holidays to recognize their efforts during the year. This can also become your holiday recognition, if you want to change things up or don’t have a regular holiday bonus plan. Many employees appreciate paid time off in lieu of other types of holiday recognition.

To learn more about us and / or to schedule your appointment with the business experts at Corporate Business Solutions, call us today at 877-357-9366.

Skip the Construction Slow Season

Corporate Business Solutions  is a business consulting firm that is recognized for the ability to assist in the growth of small and medium- size businesses.  Our expertise allows for us to assist business leaders with the challenges they face in today’s small business marketplace, including progressing in your industry’s “slow season.”

In the construction industry, the winter season often brings a slow onset of business.  However, this doesn’t mean contractors have to go into hibernation. There are plenty of opportunities to stay busy and be profitable in the offseason.  Being able to maximize your business’ effectiveness during the offseason for any contractor or company is one of the pillars of a long and profitable career.

Expanding Services – Many businesses that are affected by winter weather have adapted and seized the opportunity to include new services in order to survive the adverse weather conditions. Popular winter services are holiday lighting, decorating and snow removal. Some contractors even provide carpet cleaning services, air-conditioning & heating services during the winter.

Interior Remodeling – Try to convince your clients to do interior remodeling during winter. After all, it is a good use of their time – when the climate is unfavorable outside – to spend time renovating indoors. In general, people are keen to take advantage of undertaking interior renovations in the winter. There is a climbing demand for interior painting, flooring, cabinetry, etc. to be done indoors during this time.

Address Added Value - Your clients may not see the potential opportunities to add value while remodeling, so explain it. Things like replacing old windows and doors are worth a look to bring in a better financial investment to the client, especially if they are getting ready to sell. These minor modifications can add tremendous value to a client’s home. A new front door can add up to 97% of the amount spent to the value of any home. Let your clients know that these minor services are seasonal and that they should take advantage of them while they can.

To learn more about us and / or to schedule your appointment with the business experts at Corporate Business Solutions, call us today at 877-357-9366.