Many small business owners struggle this time of year with determining year end bonus packages.  The balance between what the company can afford to give and the need to show appreciation for its employees is sometimes difficult.

The SBA posted an article on December 7th, 5 Things to Know about Year-End Bonuses written by their guest blogger, Barbara Weltman.

According to Bank of America’s Fall 2017 Small Business Owner Report, 35%of small businesses plan to offer year-end bonuses. These bonuses are an important way to retain good employees, especially during this increasingly tight job market. The size of these bonuses varies by industry and company, as well as the way they are figured (tied to performance or a flat amount) and when they are paid to employees (this year or next). Here are 5 things to know about year-end bonuses. Read more…

Bonuses can come in many forms. Many years ago, working for a small, up and coming business, we received a small cash bonus and an extra day off to be with family.  It was wonderful! Take a look at your team and decide what is best for you both.  Happy Holidays.

Special thanks to Ms. Weltman for her post.  Barbara Weltman is an attorney, prolific author with such titles as J.K. Lasser’s Small Business Taxes, J.K. Lasser’s Guide to Self-Employment, and Smooth Failing as well as a trusted professional advocate for small businesses and entrepreneurs. She is also the publisher of Idea of the Day® and monthly e-newsletter Big Ideas for Small Business® and host of Build Your Business Radio. She has been included in the List of 100 Small Business Influencers for three years in a row. Follow her on Twitter: @BarbaraWeltman.

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