So with the whacking the economy is doing this year, you may not be able to offer up those great holiday bonuses you so generously gave your staff in the past. But you want to do something. Dave Colburn, CEO of Smart Online offered up some great ideas. Consider whether they might work for your business.
- Paid Time Off: How about offering a full day’s pay for a half day’s work? One or two of these at holiday time will allow your staff more time with family — that’s what holidays are all about anyway.
- Coupons: During a recession, every penny counts. Search for discounts that will minimize your staffs’ holiday bills. Give these coupons away generously.
- Barter System : Set aside time to create a Barter System program for employees. Staff can bring in new, unwanted items and swap with co-workers. The trade-off: saving money and gas by avoiding shopping trips to the mall.
- Holiday Feast: With the rising cost of food, many families are hoping to find alternatives to cooking throughout the season. Employers can have holiday meals catered and prepared for the company. The cost of a Thanksgiving meal is much cheaper than a typical bonus.
- Partnerships: Search through your Rolodex and you’re guaranteed to find a business contact that could provide a service to your employees. A simple tune-up or dry cleaning bill could make or break someone on a budget. One phone call could complete a task that an employee has been putting off for months.
- Take Advantage of your Company: Some employees could really use some pampering. Take the opportunity to seek out group rates for services such as spas and gyms. If you can recruit your entire company, you can lock in savings on services that can be used for the entire year.
What do you think? Share your great idea by leaving a comment.