“The season of bonuses has turned bleak,” writes Scott Spreier.
No joke! As we approach the end of a year in which most people who still have jobs did more with less all while fearing they would be the next one to receive a dreaded pink slip, there’s a good chance that most of those dedicated employees will receive nothing extra but a pat on the back for all of their hard work.
Back in the day of flusher times, even those who worked half that hard could often count on ending the year with some extra money from their employer as a thank you for a job well done. Nowadays, anyone working outside the c-suites of Wall Street have lowered their expectations and managers have been saddled with the unenviable task of letting employees know that they will be getting only a small bonus or no bonus at all.
So what do you do if you’re one of those managers? As much as you’d like to, you can’t just ignore the issue and hope it goes away. You have to face it head on, and how you do so could make the difference between retaining valued employees and watching helplessly as they head for the door, explains Spreier, who offers four tips to help you get it right.
Is your company giving out bonuses this year? If so, will they be less than in years past? How do you plan to handle this issue with workers who probably will feel disappointed? Share your thoughts and suggestions here.
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