Storefront, my column for Buffalo Spree, is back in the November issue. This month’s column focuses on my belief that for small businesses, profit sharing always trumps holiday bonuses. Here’s a preview:
Ready or not, the holidays will be here in the blink of the eye. And traditionally, for most businesses that means writing bonus checks for employees. Well, bah humbug to that! This holiday season, no one should be getting a bonus.
Employees, before you run me out of town, please hear me out. It’s not that I think you didn’t work hard this past year or give your all to your job. I think you might be selling yourself short. I’m saying this because a bonus is a gift. It’s a gift given at the discretion of your employer and it might range from a few hundred dollars to thousands of dollars, depending on your profession and where you work. A gift is a gift. It’s not guaranteed and it’s not tied to performance or failures. And while gifts are nice, this is business, and your successes and failures on the job directly impact the bottom line of the company you work for. If you’re always putting your job first and making the company lots of money, don’t you think you deserve more than just a bonus? Don’t you deserve a piece of the action?
Now employers, before you run me out of town, please hear me out too. It’s not that I think you’re being tight with the bonuses your gifting your employees. I think that the bonuses aren’t necessarily being appreciated the way that you think they are. It’s in your best interest to keep your employees happy and make as much money for the company as possible, right? If that’s your goal, allow me to suggest a different solution. It comes in three parts…
Pick up the new issue of Buffalo Spree to read the column in its entirety and keep an eye out for my column next month. It’s all about innovation.