Don't Go Cheap on Your Holiday Bonus – An Investment Worth Making

It's that time of the year when the crisp winter air is filled with the scent of pine, hot cocoa, and the anticipation of holiday bonuses. These bonuses are not merely an end-of-year perk but a testament to the success of the company and the invaluable contributions of its employees.

I still fondly recall my early days as a barista at Morning Dew coffee shop. My boss, Steve, would hand out bonuses during the holiday season that included Cash (not a check) and a small bag of premium coffee.

Those bonuses were more than just extra cash; they were a tangible acknowledgment of our organizational importance. Today, as the founder of a small wellness center and a Partner in a Tech firm, I strive to instill the same feeling of value and appreciation among my team members.

However, the significance of holiday bonuses extends beyond personal gratification. They also play a crucial role in our economy. The holiday season is synonymous with increased spending – be it for gifts, festive meals, or travel expenses. This surge in expenditure often strains personal budgets, and here's where the holiday bonus steps in. It serves as a financial cushion, helping to mitigate the impact of overspending. For some, it might cover a car payment; for others, it could ensure the heat stays on during the frosty winter months.

A team member from our 6th Sense Health and Wellness Centers recently shared her experience. At her previous job, her holiday bonus was a $25 gift card and a Christmas card featuring the owner's family pet. While the intent might have been good, the gesture fell short of truly acknowledging her contributions to the company.

So, this holiday season, I urge you not to skimp on your holiday bonuses. Your team members make significant sacrifices to be a vital part of your organization. A generous bonus can go a long way in showing your appreciation and ensuring your team feels valued and motivated.

But it's not just about employee morale. Financial bonuses also offer tax benefits for companies. They provide a significant deduction to your profits as well as your tax bill. This means that by giving out holiday bonuses, you’re not only rewarding your employees but also helping your business.

However, it’s important to remember that bonuses don’t always have to be financial. Small businesses can get creative with voluntary benefits that cost little, like extra paid time off or flexible work hours. Remember, the goal is to show appreciation and make your team feel valued.

Investing in your team during the holidays will pay dividends in the long run. Treat them well, and they will show up for your company in ways you may only be able to imagine. After all, a happy and appreciated workforce is the backbone of any successful business. So, let’s spread some joy this holiday season, and remember – don’t go cheap on your holiday bonuses!

No matter how big or small your business is, every employee plays a vital role in its success. And there's no better time than the holiday season to show your gratitude. So go ahead, and invest a little more in your team this year. You'll be surprised at the incredible return on investment a well-deserved holiday bonus can bring!