I do enjoy the holidays but it does bring up some interesting concerns. I have always given a Christmas bonus to my employees. However with the economy being a little rough I am tempted to cut those back this year. It would certainly help the bottom line but what about morale? I need to keep these people happy so I have them when things take off again. So I have decided to give the Holiday bonus to help keep everyone happy. Besides who wants to be called scrooge all year.
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A tough economy calls for leaders to make tough decisions…its not easy being the boss.
I understand that in a service business your people are vital to your success, but did you consider other options…maybe only giving top employees bonuses or maybe stock / long term incentive bonuses instead of cash? Just curious what you felt like your other options were besides cash or being a scrooge.
Being the Boss means looking at the big picture not just the bottom line. If you pay some team members bonuses and not others aren’t you sending the message I will pay a bonus to the ones I want to keep? If you lose good employees it can take time and money to replace them. If the company is in dire straits then you have to cut back to stay in business. If you really only want to help the bottom line you may cost yourself more in the long run by losing good employees.