What If… You wanted to change Your holiday bonus?
Holiday bonus can be a difficult time. What do you do? What is fair? What are other companies doing? This is especially difficult if you give a discretionary bonus. Compensation is a satisfier. It is not a motivator. If your holiday bonus does not satisfy—
You will have unsatisfied and potentially disgruntled employees. Being part of a Peer Advisory Board gives You the opportunity to ask what they are doing. What percentage of pay? Are they increasing compensation and bonuses over last year? What do you do if business has not been as good as last year?
Having Peers to ask and bounce Your thoughts and issues is a value you cannot a state a dollar amount. What is Your cost if one employee is turned off from the holiday bonus and leaves? What is the risk and cost to replace an employee? Make Your holiday a happy time and eliminate the pressure by learning from Your peers.
I am sure you know a Peer Advisory Board is a monthly meeting of non-competitive business owners, Presidents, CEO and C level Executives with an experienced facilitator who keeps the discussion on track and drives for conclusions.
At each meeting a topic is presented start the meeting, and to get the discussion following. Most Importantly, each participant has an opportunity to bring their issues to the table for peer feed back. In essence, a think tank with action and accountability.
PRO, President’s has created and facilitated business owners peer advisory boards for over 25 years. Technology now makes it possible for business owners to participate in On Line Peer Advisory Boards with an experienced facilitator, mentor, and tormentor. This means you can participate anywhere and on any wifi comparable device.
To give you an idea CLICK Here for a digital copy of the PRO Small Business Toolbook. 83 pages of articles, worksheets on almost every small business issue. It will get your brain thinking! This is an example of peer advisory insight
Many companies are exploring the elimination of a year end discretionary bonus and going to some type of measurable bonus based on results. This brings up the issue of how you communicate this transition and why it is better for your employees. PRO, members have accomplished this transition and know the in’s and out’s to make this a smooth and beneficial change.
Now you can participate in an On Line Peer Advisory board anywhere, and on any device. CLICK Here for the Small Business Toolbook and to learn more about ON LINE Peer Advisory Boards.