April 16, 2010 at 7:57 am
So we're talking about how people would like to be rewarded by the company.
I briefly worked at a place that used a "cash booth." It was a noisy, inflatable phone-booth looking contraption with lots of air billowing around in it so as to make the cash fly around.
Each month a few sales associates with good numbers would get to go in the cash booth and grab dollar bills. There were a few fives and twenties mixed in, too. I think the average take must have been around 60-80 dollars.
Now depending on the situation, this could be experienced as jovial and fun or as pathetic. If everyone was being paid well, then why not - it's great fun. But I was of the opinion that these associates were probably underpaid and when I saw this periodic "spectacle", I got depressed.
I just want to leave some related food for thought. I agree with Steve. I'll go a little further. If you want cash as the extra "thank you," that might be diagnostic in that you might be living too close to the edge financially. You might be in a position to adjust the finances so you can feel more comfortable and secure - and that could improve your relationship with your employer. It can take some of the strain off and make you feel less subservient and dependent - and more like you're in a mutually-cooperative agreement.
Bill Nicolich: www.SQLFave.com.
Daily tweet of what's new and interesting: AppendNow
April 16, 2010 at 7:58 am
I enjoy an afternoon on the golf course (on company time and money) from time to time 🙂
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April 16, 2010 at 8:03 am
A company used to award free home computer until a couple of years later one employee refused. Then everyone caught on that the home computer put them on-call for anything urgent. These were not tech or IT support employees. Later the company changed the reward to a gift certificate from Santa given as part of the annual company Christmas party.
April 16, 2010 at 8:07 am
My company sent the top 50 performers and their spouses for a week-long holiday in Mexico. It was unforgettable. I don't think cash, while always nice to have, would have had the same effect.
April 16, 2010 at 8:09 am
Even if you receive a non-cash reward, don't you still get taxed on the value of the reward?
As an example, the company gives me a cruise to the Bahamas. The value of that is $4,000. That means the company will need to show an increase of $4,000 on my W2 at the end of the year. With that in mind, I would turn down any non-monetary bonuses that the company gives me that I wouldn't buy myself anyway.
You might be able to receive small trinkets worth around $20 without any tax ramifications but then would you really consider that a bonus?
April 16, 2010 at 8:11 am
One other thing, if a company or executive makes a promise they should carry through.
I'm still owed a trip to Disneyworld that an owner promised me in writing then later renigged on.
My sole consolation is that his partners screwed him over and forced him out of the company during a "buyout" that resulted in no money for him, but lucrative jobs for them.
April 16, 2010 at 8:12 am
I like the idea of giving people some choices. I work in higher ed and this year for our "Years of Service" award we could chose from the standard gift for our number of years (with the college logo on it), OR the equivalent value for a gift certificate at our bookstore, donatation to a scholarship of our choice, our human needs fund, or student service trips (a week long work trip during one of the college's breaks).
I'm not a coffee drinker, but I love that you call your free coffee a "Perk".
Time off is a great option, especially if you've put in long hours.
I love the "Listen to me" card. I bet poeple could come up with other similar cards.
Julie
April 16, 2010 at 8:12 am
You sometimes forget how good you have it. Until reading some of these posts, I didn't realize how good my company is to work for:
1) We have a company paid coffee service (I don't drink it so...)
2) We have recognition/reward programs for things like gas cards, theatre tickets, shirts, coozies, etc.
3) We have an incentive program for professionals/low level executives.
4) We sponsor a family day where family can come in and see where you work and have hamburgers and hotdogs on the company.
5) We have a company picnic at a local water park where the company pays for the entrance fee and lunch for everyone and their spouses and children.
As for incentive pay, it is nice, but the reward of realizing how much you are appreciated is more important to me. Even with all of these perks, you can sometimes feel under-appreciated if your immediate supervisors do not let you know that you, as an individual, are appreciated.
So, for me, I think a retreat would be a nice gesture -- my spouse deals with a lot because of my job. I think it is great that some companies recognize this and respond.
April 16, 2010 at 8:14 am
sjsubscribe (4/16/2010)
A company used to award free home computer until a couple of years later one employee refused. Then everyone caught on that the home computer put them on-call for anything urgent. These were not tech or IT support employees. Later the company changed the reward to a gift certificate from Santa given as part of the annual company Christmas party.
I worked for a company that gave out $10k net Y2K bonuses.
April 16, 2010 at 8:21 am
I've only been in IT for 3 yr.s now and the most I've got in cash bonuses is a $25 gift card on my birthday (well... a month after).
My bro. in-law however is working for a company that gets some awesome benefits:
100% paid health plan...no monthly premiums
A fair annual bonus
1-2 conferences/training a year
These are some benefits that I'd love to get. I've started with a new company and there hasn't been any cash bonuses yet, but they have paid for hockey tickets and paid for my family to go a corn maze and free pumpkins. Another great thing is serveral times we've been told to go home early, still getting paid for the time, the day before a holiday or long weekend.
I think that there is an inherent flaw in a cash bonus as the only compensation for hard work. It creates more distance between the people and the company, and it limits the worth of the hard work.
Too many people are detached from there company and work, as it's only there to provide money. To really enjoy everyday you've got to have alittle more than just money, you've got to have something to look forward to, and that should be friends in your coworks, stability in your environment, and comfort knowing you can provide what you need.
Cheers,
Gabe
April 16, 2010 at 8:23 am
cengland0 (4/16/2010)
Even if you receive a non-cash reward, don't you still get taxed on the value of the reward?
(This is US and I am not qualified to give tax advice.)
If you, individually, are given a gift of more than nominal value, it must be reported. Many companies "gross up" the value so as to cover the taxes for you.
However, if the company has a business retreat that covers business, team building, etc. the only taxable part would be the travel, any separate accomodations, events costs, and individual meals of the spouse. In most cases, this might only be the travel costs.
April 16, 2010 at 8:25 am
I myself work in local government, so there are never any bonuses. And, I have been here long enough that I am now at the top of my pay range, so each annual review period, I know I am not going to get anything but the proverbial "pat on the back" and keep up the good work. I even managed two (TWO) "Exceeds expectations" on my review!!
Imagine my surprise a week later when at home, in the mail, with no notice, I received a letter from HR that I had been awarded three additional, paid days off that could be taken at any time as thanks for my past performance. Surprise! Surprise!
April 16, 2010 at 8:30 am
nelsonj-902869 (4/16/2010)
Imagine my surprise a week later when at home, in the mail, with no notice, I received a letter from HR that I had been awarded three additional, paid days off that could be taken at any time as thanks for my past performance. Surprise! Surprise!
Those are the things that make you want to get up and go to work in the morning, unexpected tokens of gratitude.
April 16, 2010 at 8:36 am
Non monetary rewards often are way more memorable. When I got my MCDBA my employer at the time bought me a jacket with 'Microsoft Certified DBA' embroidered on it. (any the company logo on the sleeve) I still wear the jacket. I remember the baseball tickets that were periodically given out to employees. Money's great but a thank you card with a gift certificate for a restaurant is really memorable. I now work at a quasi government office where these kind of things aren't done because many members of the public take a dim view of public money being spent this way, but it is a matter of degree. You can't spend huge amounts on money on rewards like this but reasonable and thoughtful gifts to employees can be part of a great HR rentention and loyalty program.
Francis
April 16, 2010 at 8:53 am
Two things really top my list in terms of "perks". The first is time off. An extra day is nice, but what always gives me warm fuzzy feelings is being told by my boss to go home early. Beating traffic and the subsequent stress is well worth it, and it's nice to get the extra time with my family.
What I'd really like (but won't get with my company) is the ability to work from home occasionally. I write code all day, so it's not like I'm needed at my desk, but our company doesn't do the work from home thing. It would do a lot to help with the goodwill for our entire department if they'd let us work from home even just one day every other week.
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