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Do You Or Don’t You … Pay End-of-the-Year Bonuses?

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[componentheading]Yes, I Do[/componentheading]

Do You Or Don’t You … Pay End-of-the-Year Bonuses?We pay a percentage of December sales. My staff just tries a bit harder when they get a piece of the pie! — Rosanne Kroen; Rosanne’s Diamonds & Gold, South Bend, IN

We give everyone an extra $1,000 just to let them know they are doing a good job. More if we have a good year. — Curt & Elizabeth Parker; Curt Parker Jewelers, St. Louis, MO

I have been an employee longer than I have been a boss, and I remember how nice it was to get a bonus. I also remember not getting one and knowing how much business transpired and how hard I worked; I felt I was not appreciated. I want my staff to know that they’re appreciated. —Amber Gustafson; Amber’s Designs, Katy, TX

I explain that a bonus is something that has to be earned, and that it should not be an expected thing. — Ron Hooper; Hooper’s Jewellers, Bowmanville, ON, Canada

I always pay an extra week of salary. — Nimet Jetha; Bijouterie Elysee, Pointe Claire, PQ, Canada

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We provide a Christmas cash bonus, strictly guided by the individual’s seasonal performance. We also have a commission program, which has a yearly payout. — Denise Oros; Linnea Jewelers, La Grange, IL

Bonuses are paid at the end of February for hours worked and dollars sold during November and December. That way, if they quit after Christmas, they don’t get their bonus, and they usually still work through Valentine’s Day. — Stacey Gelmici-Saunders; Gelmici Jewellers, Edson, AB, Canada

I don’t know how to keep bonuses from being expected, so I keep them in the “Christmas present” range. “Just be happy you have a job this year” as a bonus isn’t something that engenders confidence or optimism. I’d rather put $500 in an envelope with a card. — David Phelps; Precision Platinum, Durham, NC

In order to achieve a bonus, my employees and company have to meet their goals in three out of five goal areas. None were met in 2009. — Howard Knopf; Robert Irwin Jewelers, Memphis, TN


[componentheading]No, I Don’t[/componentheading]

We are a commission-based sales staff, and to reduce expenses in 2009, we removed bonus programs for support staff and management. — Susan Jacques; Borsheims, Omaha, NE

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Your payroll should reflect sales. When you make money, your associates should make money; when you don’t, they shouldn’t. If our associates reach a certain margin or gross, then they earn a bonus. Don’t pay it just because it’s Christmas. What if the Christmas selling season keeps failing to show up? Do you keep paying bonuses? Absolutely not! — Sandy Kluh; S.T. Kluh & Co. Jewelers, Centralia, WA

I just go and purchase nice gifts for employees and friends.  — Laurie Cusher; Hyde Park Jeweler, Hyde Park, NY

We give each employee a very nice piece of jewelry — one that they have mentioned that they would like to receive. — David Lindsay; Purdy’s Jewellery & Gems, Bobcaygeon, ON, Canada

[span class=note]This story is from the September 2010 edition of INSTORE[/span]

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SPONSORED VIDEO

When Sales Beat Projections, You Know Wilkerson Did Its Job

There are no crystal balls when it comes to sales projections. But when Thomasville, Georgia jeweler Fran Lewis chose Wilkerson to run the retirement/going-out-of-business sale for Lewis Jewelers and More, she was pleasantly surprised to learn that even Wilkerson could one-up its own sales numbers. “Not only did we meet our goal, but we exceeded the goal that Wilkerson had given us by about 134%,” she says. After more than 40 years in the business, Lewis says she decided a few years ago to “move towards retirement.” And she was impressed by Wilkerson’s tenure in the industry. Overall, she’d recommend the company to anyone else who may be thinking it’s time to hang up their loupe. “As a full package, they’ve done a very good job and I’d definitely recommend Wilkerson.”

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Do You Or Don't You?

Do You Or Don’t You … Pay End-of-the-Year Bonuses?

Published

on

[componentheading]Yes, I Do[/componentheading]

Do You Or Don’t You … Pay End-of-the-Year Bonuses?We pay a percentage of December sales. My staff just tries a bit harder when they get a piece of the pie! — Rosanne Kroen; Rosanne’s Diamonds & Gold, South Bend, IN

We give everyone an extra $1,000 just to let them know they are doing a good job. More if we have a good year. — Curt & Elizabeth Parker; Curt Parker Jewelers, St. Louis, MO

I have been an employee longer than I have been a boss, and I remember how nice it was to get a bonus. I also remember not getting one and knowing how much business transpired and how hard I worked; I felt I was not appreciated. I want my staff to know that they’re appreciated. —Amber Gustafson; Amber’s Designs, Katy, TX

I explain that a bonus is something that has to be earned, and that it should not be an expected thing. — Ron Hooper; Hooper’s Jewellers, Bowmanville, ON, Canada

Advertisement

I always pay an extra week of salary. — Nimet Jetha; Bijouterie Elysee, Pointe Claire, PQ, Canada

We provide a Christmas cash bonus, strictly guided by the individual’s seasonal performance. We also have a commission program, which has a yearly payout. — Denise Oros; Linnea Jewelers, La Grange, IL

Bonuses are paid at the end of February for hours worked and dollars sold during November and December. That way, if they quit after Christmas, they don’t get their bonus, and they usually still work through Valentine’s Day. — Stacey Gelmici-Saunders; Gelmici Jewellers, Edson, AB, Canada

I don’t know how to keep bonuses from being expected, so I keep them in the “Christmas present” range. “Just be happy you have a job this year” as a bonus isn’t something that engenders confidence or optimism. I’d rather put $500 in an envelope with a card. — David Phelps; Precision Platinum, Durham, NC

In order to achieve a bonus, my employees and company have to meet their goals in three out of five goal areas. None were met in 2009. — Howard Knopf; Robert Irwin Jewelers, Memphis, TN


[componentheading]No, I Don’t[/componentheading]

Advertisement

We are a commission-based sales staff, and to reduce expenses in 2009, we removed bonus programs for support staff and management. — Susan Jacques; Borsheims, Omaha, NE

Your payroll should reflect sales. When you make money, your associates should make money; when you don’t, they shouldn’t. If our associates reach a certain margin or gross, then they earn a bonus. Don’t pay it just because it’s Christmas. What if the Christmas selling season keeps failing to show up? Do you keep paying bonuses? Absolutely not! — Sandy Kluh; S.T. Kluh & Co. Jewelers, Centralia, WA

I just go and purchase nice gifts for employees and friends.  — Laurie Cusher; Hyde Park Jeweler, Hyde Park, NY

We give each employee a very nice piece of jewelry — one that they have mentioned that they would like to receive. — David Lindsay; Purdy’s Jewellery & Gems, Bobcaygeon, ON, Canada

[span class=note]This story is from the September 2010 edition of INSTORE[/span]

Advertisement

Advertisement

SPONSORED VIDEO

When Sales Beat Projections, You Know Wilkerson Did Its Job

There are no crystal balls when it comes to sales projections. But when Thomasville, Georgia jeweler Fran Lewis chose Wilkerson to run the retirement/going-out-of-business sale for Lewis Jewelers and More, she was pleasantly surprised to learn that even Wilkerson could one-up its own sales numbers. “Not only did we meet our goal, but we exceeded the goal that Wilkerson had given us by about 134%,” she says. After more than 40 years in the business, Lewis says she decided a few years ago to “move towards retirement.” And she was impressed by Wilkerson’s tenure in the industry. Overall, she’d recommend the company to anyone else who may be thinking it’s time to hang up their loupe. “As a full package, they’ve done a very good job and I’d definitely recommend Wilkerson.”

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