There is more than one way to thank employees during the holidays
December 17, 2013
Filed under Liz Keener
Every year business owners are confronted with the holidays and how or if they should show appreciation for their employees at the end of the year.
Though most entrepreneurs want to avoiding coming off like Frank Shirley from “Christmas Vacation” — who gave Clark Griswold a one-year membership to the Jelly of the Month Club, if you recall — it’s a fact that bonuses can be expensive and bite into a company’s bottom line. On top of that, monetary gifts can be taxed to the point that either the employee ends about balking at the final dollar amount, or the employer feels obligated to up the prize, so the take-home amount is still worth smiling about.
In that vein, I recently ran across a pair of articles from the National Federation of Independent Business that may help you traverse this treacherous ground.
The first is “Employee Gifts: How to Give Tax-Free.” It offers a list of alternative heavily taxed cash bonuses.
The second is “How to Thank Employees When You Can’t Afford To Give a Bonus,” explaining other options beyond the typical holiday gifts.
Hopefully these articles will help if you’re feeling stuck between a rock and a Jelly of the Month Club this holiday season.