Bonus Plans – The Giving Part 1

It’s the most wonderful time of the year, and with it comes the age-old question, “What should I do for my team in the way of a bonus or holiday gift?” Nearly every practice owner struggles with the why, how, and what of gift-giving at the end of the year. In this episode, Dr. Kuba and Bethany discuss not only year-end gift giving strategies but also on-going bonus plans for the rest of the year. Three main bonus strategies are discussed as well as the impact of these bonuses and gifts upon the team. 

Show hosts Bethany Petty and Dr. Reena Kuba dive into the following topics: 

Options for year-end gift giving to team members; How to handle senior staff members as well as new team members. The importance of incentivizing throughout the year so that all the weight doesn’t fall on end of year good behavior. Options for incentivizing throughout the year. Focusing on the positive outcomes of year long, consistent bonus options. Bonuses should be a win-win-win. Keeping bonus plans and holiday plans diverse so that the events/gifts speak to different employees.