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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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Wilkerson Testimonials

Gone Fishin’ (Thanks to Wilkerson)

Whether you want to go fishing — or enjoy some of the other good things life has to offer — you can take a cue from Jim Adair and choose Wilkerson to run your retirement sale. After 38 years in business, Adair decided it was time to enjoy some free time. His Missoula, Montana store, Adair Jewelers, will stay in business but without him at the helm. It was the perfect opportunity to call in the experts in retirement sales. Adair says he spoke to a lot of people who have done retirement sales to help him make his decision and he chose Wilkerson. “Wilkerson seemed to have the best set up, the best organization, the most current marketing of any of them,” he says. “If you want to run a successful sale, you have too much money on the line to be screwing around with trying to do it yourself.”

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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

Wilkerson Testimonials

Gone Fishin’ (Thanks to Wilkerson)

Whether you want to go fishing — or enjoy some of the other good things life has to offer — you can take a cue from Jim Adair and choose Wilkerson to run your retirement sale. After 38 years in business, Adair decided it was time to enjoy some free time. His Missoula, Montana store, Adair Jewelers, will stay in business but without him at the helm. It was the perfect opportunity to call in the experts in retirement sales. Adair says he spoke to a lot of people who have done retirement sales to help him make his decision and he chose Wilkerson. “Wilkerson seemed to have the best set up, the best organization, the most current marketing of any of them,” he says. “If you want to run a successful sale, you have too much money on the line to be screwing around with trying to do it yourself.”

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