Quantcast
Jump to content


How do you handle End of Year Bonuses?


Recommended Posts



This year I am giving away things that have take home value as Bob Cooper likes to call it :)

 

One of my techs loves going to the movies so one of his bonuses will be a gift card to the movies. Every time he goes to the movies and use the gift card he'll think, "hey my boss is a pretty good guy" :)

 

One of my techs has a new born baby, I'm probably going to give him among other things a Babies R Us gift card. Also he really loves his professional as an auto tech and has a passion for the business. I saw him eyeing a nice jacket from Mac Tools. I may get one of those for him too. Maybe get some of his patches sewn on for him since he likes to walk around with his ASE and shop patch.

 

Money is a great bonus however its fleeting. Its seen once and its gone whether they use to to buy something or they put it in there bank account they will hardly ever think about it again.

  • Like 1
Link to comment
Share on other sites

The bad thing about money bonuses is that there is no way to evade the taxman, so a $100 bonus is $70 in your employee's pocket and about $117 out of yours, but we do money because that is what most of our folks need at Christmas time. We put it in their check a couple of weeks before Christmas so they can spend it as they please. I like the gift card idea, but (call me paranoid) I don't like things I would have to explain in an IRS audit.

Link to comment
Share on other sites

  • 2 weeks later...

Unfortunately, the owners stopped giving bonuses. We used to get them and they were appreciated. The owners say they apply more money to our 401k plans, but not everyone participates in the program. I know the younger guys, the ones with little kids and all the expenses thereof could certainly use the additional cash. I've been around for a long time, but even I appreciate the money and the gesture more than a 401k contribution. I don't know, it just feels like a thumb in the eye.

Link to comment
Share on other sites

Salaried, hourly with or without an incentive tied to it we seem to cover the gamete when it comes to compensation plans at our facility seeing how we run a collision repair division along with a preventive maintenance general repair center and the easiest thing we seem to all agree on is that year end holiday bonuses are done based upon a percentage of gross income regardless of who you are on that food chain. This year we did a 1.5% so on a 80K they received a gross check of $1,200.00 and a 20K helper picked up $300.

 

These percentages do have targeted numbers tied to them within the operation that each person in each department has complete access to and within your area of the operation you have control over with obviously the seasoned staff members begin watching on January 1st.

Link to comment
Share on other sites

  • 3 weeks later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Available Subscriptions

  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
  • Similar Topics

    • By DUFRESNES

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By Changing The Industry
      Is Your Toxic Boss Actually YOU? #podcast #automotiverepair
    • By carmcapriotto
      Thanks to our Partner, NAPA Auto Care Alex Saladna from WickedFile discusses the challenges shop owners face in tracking parts, expenses, and managing profit margins. With real-life examples of shop owners discovering hidden costs and inefficiencies, this episode is a must-listen for anyone looking to optimize their business operations. Alex Saladna, WickedFile Show Notes
      The Brakes for Breasts Initiative (00:00:15) An initiative by two shop owners to raise funds for a vaccine for triple negative breast cancer. https://brakesforbreasts.com Challenges in Business Management (00:02:06) The challenges in tracking parts, expenses, and managing profit margins in the automotive industry. Founding of WickedFile (00:02:38) How WickedFile was founded and the motivation behind creating a parts tracking solution for the auto repair industry. Importance of Tracking Spending and Financial Documents (00:06:05) Discussion about the significance of tracking spending and managing financial documents in the automotive industry, including the risks of financial discrepancies. Identifying Business Gaps (00:07:14) Alex highlights the importance of identifying gaps in business operations and the potential financial impact. Efficient Parts Tracking and Profit Management (00:09:25) Discussion about the significance of efficient parts tracking and managing profit margins in the automotive industry. Tracking Vendor Credits (00:10:35) Discussion about the processes and disciplines for tracking vendor credits and ensuring the accuracy of financial transactions. Simplified Document Management (00:12:04) Explanation of the simplified document management process offered by WickedFile, including email invoicing and categorization. Efficiency in Document Retrieval (00:13:31) The efficiency of document retrieval in WickedFile's system and the benefits of streamlined data organization. Expense Management (00:15:40) Discussion about the upcoming features of WickedFile for expense management, including insights into business spending patterns. WickedFile's Integration with Management Systems (00:20:19) Explanation of the integration process and the management systems currently supported by WickedFile. Inventory Management and Disciplines (00:21:47) The importance of inventory management, including tracking parts and maintaining discipline in the system. WickedFile's Role in Enhancing Business (00:25:01) How WickedFile aims to enhance business operations, improve profitability, and address parts-related challenges. Training and Support for WickedFile Users (00:26:16) Details about the training, support, and enablement provided by WickedFile for its users. Impact of WickedFile on Business Operations (00:26:57) Real-life examples of how WickedFile helped businesses identify issues such as excessive spending and theft.
      Thanks to our Partner, NAPA Auto Care Learn more about NAPA Auto Care and the benefits of being part of the NAPA family by visiting https://www.napaonline.com/en/auto-care Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections
      Click to go to the Podcast on Remarkable Results Radio
    • By nptrb

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.



  • Our Sponsors



×
×
  • Create New...