As we wrap up 2015, here are two topics we receive numerous questions about: new company policies that have been created throughout the year and bonuses.
Loose Policy Additions:
Every company winds up issuing new policies throughout the year, usually as a sheet of paper to be inserted into the existing handbook. As the end of the year approaches, it is wise to insure that these new policies are actually contained in the book itself, with the outdated versions being removed. While we ask our employees to do just this each time a new policy is issued…they don’t always do it. Best practice — collect all books for a few days, updating their content and then redistributing each accordingly. Oh…and be sure to secure a new handbook receipt in the process.
When did the definition of “bonus” become something your employees count on and feel entitled to at the end of the year — despite how they performed or how profitable the company was the prior 12 months? Bonuses are supposed to be compensation events that get paid IF and only if certain objectives are achieved. There should be specific measures you can monitor and see and evaluate. Employing metrics means you can reclaim the bonus event and turn it into something earned vs. something taken for granted.