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Year End Celebration For Your Employees

bonuses employee wellbeing payroll Nov 18, 2024
Woman looking in the distant for year end bonus topic
It is that time of year for you to be figuring out how to celebrate your employees.
1. Do you have a party?
2. Do you give out cash bonuses?
3. Do you give out gifts?
4. Do you do nothing?

Whatever you decide, my vote is for you to be transparent with your team on how and why you are choosing to celebrate them that particular way. It's important to communicate openly and honestly with them, as transparency builds trust and understanding. Letting your employees know the reasoning behind your decision can create a sense of inclusion and appreciation, reinforcing the value you place on their contributions.

1. If you choose to host a party, consider what would be most enjoyable and meaningful for your team. Whether it's a formal dinner or a casual get-together, focus on creating an environment where everyone can relax and bond outside of work. Personally, this is my least favorite option, as I dread the uncomfortable conversation of small talk (yes, I am an introvert. I love people, I just want to talk about deep topics instead of the weather or sports).

2. If cash bonuses are on the table, ensure they align with your company’s financial health. January is going to be a 5 weeks, meaning you might have an extra payroll to prepare and save for. If you are going to do end of year cash bonuses, I recommend that you start preparing for them in January and as soon as the employee joins your team. As for budgeting for them, I personally make bi-weekly transfers into a separate bank account, assuring me that money will be available when it is time pay out the bonuses.

With that said, if your company is struggling with cash flow right now, as many businesses are, skip the end of year bonus. Bonuses should not put the company in debt. Your employees would rather have their job than a bonus check. Your employees would rather have a job than a party, especially at this time of year.

3. When giving gifts, try to personalize them as much as possible. Thoughtful, meaningful gifts can leave a lasting impression and show your employees that you recognize and value their individuality. I have found it fun to do a zoom call where everyone can open up their gifts and show them off together. I even would send bubbles, hand clappers, and kazoos to add to the celebration!

4. No gifts: If you decide that your cash flow is not able to support any type of monetary gift, giving each employee a card with a hand written message in it would be amazing. I typically like to share specific examples of how they have positively impacted you during the year. Or share a particular situation or challenge you saw them overcome and how inspiring it is.

Do not put something like, “Thanks for being such a great employee” or “Good job this year, you really worked hard!” Instead, be specific, “I noticed how you handled the x project with such dedication and attention to detail, which contributed significantly to its success. I am highly impressed with your innovative approach on the marketing funnel for the X project. Your team continues to share how awesome you are and how grateful they are that you are their boss."

This type of personalized message not only acknowledges the employee's hard work and also highlights specific achievements, fostering a deeper sense of recognition and motivation.

Whatever your decision on year end bonuses, please remember that the act of celebration itself, when done with sincerity and gratitude, will have a profound impact on your team feeling seen, appreciated, and valued. Think about those in your life who have given you a true and meaningful celebration and you felt to receive it. Now is the perfect time to pay it forward for your team!

Lub you,
Crystal

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