Blog Post

Should You Give Year-End Bonuses?

> Blog > Labor & Employment > Should You Give Year-End Bonuses?

year end bonus and utilizing saved resources

What’s the deal with Year- End Bonuses?

This time of year, it’s a big question for all employers. Where do year-end bonuses for team members fit into the business?

You may be facing a year-end cash slump or big expenses. Or, you may have a bunch of cash on hand and be facing a big tax bill.

Assessing the reality of your current situation is the starting place. Many people believe they are cash-strapped when really they aren’t and could actually make better decisions with the resources they do have. You may want to contact us for a resource mining session to identify what you do have and how you can use your resources in the best way possible.

Regarding holiday bonuses for team members, we do not recommend it. Instead, get your team members a thoughtful gift that is within your budget based on the resources you have and the end of year tax planning you are doing. Perhaps even plan a fun retreat for the whole team, as a reward for a job well done, and pay for it this year (gaining the write-off) and host it in the following year.

When you give holiday bonuses, they become expected rather than earned. And, if you don’t give them one year because you really are cash-strapped, feelings can be hurt. Rather, structure your compensation plan so that your team is bonus-based on measurable objectives, all year long, not just at the holidays.

We can help you structure a compensation plan that matches your revenue model and properly rewards great work. Give us a call today and we’ll provide you with the professional service you deserve!

 

Contact Us

We want you to feel comfortable discussing your legal issue with us, so we offer a free consultation to learn about your problem. Contact us today to setup a time to come in and talk with our team.

Our Firm Locations

Anaheim Hills

Kundani Chang Khinda Wilson, LLP

155 N. Riverview Drive Suite 212,
Anaheim, CA 92808
Get Directions 714-525-2400

Los Angeles

Kundani Chang Khinda Wilson, LLP

611 Wilshire Blvd #325,
Los Angeles, CA 90017
Get Directions 213-627-2771

San Gabriel

Kundani Chang Khinda Wilson, LLP

8810 East Las Tunas Drive,
San Gabriel, CA 91776
Get Directions 714-525-2400

Union City

Kundani Chang Khinda Wilson, LLP

2 Union Square #102,
Union City, CA 94587
Get Directions 714-525-2400

Contact Us Today

We want you to feel comfortable discussing your legal issue with us, so we offer a free consultation to learn about your problem. Contact us today to setup a time to come in and talk with our team.