Offering benefits to employees is a policy common to many companies and one of the things you can offer is the Year-End Bonus. I know there are still a lot of 9 months left by the end of the year, but if you want to offer this benefit to your employees, you need to set a few things first.
Criteria for receiving the bonus.
You can use countless criteria to determine who will or will not receive the bonus at the end of the year. I suggest using three:
1. The company surpasses the billing goal of the year.
2. The employee exceeds the individual goals.
3. If you have groups within the company, such as team of salespeople, customer service team, production team, you can use as a criterion for distributing the bonus to exceed the goals by the teams.
Bonus distribution criteria.
Post defining when the bonus will be distributed, it is time to define how much each will receive. Large companies use software, specific worksheets to define from countless criteria, who and how much each one will receive. But you can simplify the process. As?
1. Establish 3 goals for each team member.
2. Set the weight of each goal in the bonus distribution.
3. Define how much of the company's profit will be distributed to staff.
I hope your company has a lot of profit to be divided into your team!
Does your company offer bonuses at the end of the year? How is the calculation done? Share your knowledge here!