Christmas Bonus

ANewStart

What level of christmas bonus are you paying your staff. We run an engineering company and have 5 staff total. My partner thinks a Christmas bonus means €200 voucher. I fear it should be something more like 5-10% of salary.

Mr Cook

ANewStart wrote: »

What level of christmas bonus are you paying your staff. We run an engineering company and have 5 staff total. My partner thinks a Christmas bonus means €200 voucher. I fear it should be something more like 5-10% of salary.

Depends how well business has been tbh

OU812

5-10% of salary?

Can I come work for you please?


Seriously, hardly anyone does Xmas bonuses anymore. A €200 voucher is very generous.

Mr Cook

OU812 wrote: »

5-10% of salary?

Can I come work for you please?


Seriously, hardly anyone does Xmas bonuses anymore. A €200 voucher is very generous.

That not true. Annual bonus is back in big way and runs from 5% to 30% depending on performance. This assumes a healthy profit situation for the company though

smcgiff

You can give up to 250 euro tax free in vouchers to your employees.

In general it's not common to pay more than that.


However, structured bonuses may apply, such as a contract obligation whereby an employee is entitled to, say, 10% bonus for meeting a target.

The other thing to be careful about is setting a precedent and future expectations.

With that said, if you have had a very good year...

OU812

Well a bonus by the very definition of its name is not guaranteed.

Set a percentage & then run appraisals of your staff & whatever percentage of their KPIs they achiever is the percentage of their possible bonus.

EG. They achieved 75% of KPI & had a possible bonus of &5,000, so they receive €3,750 (seriously, can I come work for you?).

Although a €250 gift card would be very welcome for a lot of people.

whomitconcerns

5-10% of salary.........im still in shock

TonyStark

ANewStart wrote: »

What level of christmas bonus are you paying your staff. We run an engineering company and have 5 staff total. My partner thinks a Christmas bonus means €200 voucher. I fear it should be something more like 5-10% of salary.

Where I work it will be a 200 euro voucher for Christmas. Though I'm not in an a presumably profitable engineering company.

My mate is though and usually gets something like an iPad etc. Where I worked before it was 10% of net profit divided equally among everyone was about 2,500 before tax. :-) so it varies...

jimmii

5%-10% of salary seems massive! I thought the standard would have been a weeks pay 10% seems pretty excessive unless your company has seen massive growth and staff haven't been rewarded up until now. A €250 one for all vouchers seems good enough imo.

Bandara

jimmii wrote: »

5%-10% of salary seems massive! I thought the standard would have been a weeks pay 10% seems pretty excessive unless your company has seen massive growth and staff haven't been rewarded up until now. A €250 one for all vouchers seems good enough imo.

Agree

Unless they are getting it in recognition of exceeded sales or production targets then a Xmas bonus is essentially a gesture.

A €250 gesture is more than adequate imo.

neris

we dont pay bonuses or any xmas rewards anymore. Did a reward for all staff a few years ago and people were still whinging after it was all organised. Think bonuses can be industry specific but think 10% is very generous. The other thing if you start paying bonuses this year it will be expected next year and every year after that.

AtomicHorror

I'm sure it's not directly comparable to your businesses, but the last two multi-nationals I've worked for were giving from 5%-10%, based on personal evaluation and company performance. That's been more or less the same since 2009- so maybe it was different earlier in the recession.

Peterdalkey

A completely different culture endures in organisation where all the employees and directors are employees. The shareholders essentially have no say in matters such as this, and thus the culture has nothing to do with the basic entrepreneurial risk that is the norm in owner managed business. Bit like the ESB really, the management are in the same pension scheme as de lads .... Turkey's voting for Christmas and all that!

xxlauraxxox

my employer doesnt give us a bonus was shocked on xmas eve when i heard that he gave a member of staff 2free slabs of drink and the rest of us nuthing surely thats discrimmation?

OU812

xxlauraxxox wrote: »

my employer doesnt give us a bonus was shocked on xmas eve when i heard that he gave a member of staff 2free slabs of drink and the rest of us nuthing surely thats discrimmation?

Maybe that member of staff is better at spelling than everyone else?

TonyStark

xxlauraxxox wrote: »

my employer doesnt give us a bonus was shocked on xmas eve when i heard that he gave a member of staff 2free slabs of drink and the rest of us nuthing surely thats discrimmation?

...just a Christmas present... modern day panem et circenses

Stheno

xxlauraxxox wrote: »

my employer doesnt give us a bonus was shocked on xmas eve when i heard that he gave a member of staff 2free slabs of drink and the rest of us nuthing surely thats discrimmation?

On what grounds?

Anytime I've gotten Christmas bonuses that were not performance related they tended to be a couple of hundred quid.

I have had performance related bonuses as part of contracts that paid up to 30% bonuses if you met fairly heavy targets.

CathalDublin

Friend of mine's employer gave all the staff(5-6 of them) a €2 scratch card and stood over them while they scratched them lol.