Bonus Time

[Caerus]

Is that not a time period in the Labour Laws that a company has to let employees know that they will not be getting bonuses?

[andretraut]

Lucky the boss bought a Disco and a boat, and not a Dogma, because if he did, chances are that he would have pop in at the Hub, and then you have been in deep s..t!

[Guest Omega Man]

It's when you are riding on the single track and pick up an unopened Gu on the trail. :lol:

That was funny. I've found 3 pumps on the trail this year. Does that mean i've had 3 bonuses?

 

On to the bonus thing. If you get a bonus then it's, well, A bonus. There's always a lot of emotion around money and this time of year and if you start budgeting on a bonus and it doesn't come then that really sucks. Been there.

 

If you do get a bonus or tax refund the rule is simple. Spend it very un-wisely. Like buy a new bike or take your wife on a trip that you would normally definitely not be able to afford.

 

But here's some perspective. The average South African earns WAY less than 10k a month so if you're earning over that count yourself lucky. And if your household earns over $50000 per annum you are in the top 5% of earners on the planet.

[Caerus]

I think the key thing is to manage expectations. Bonus are normally loosely defined in the contract, so employees expect the best and employers try to contain costs. Both sides have a valid case so it's just about finding the happy middle ground in most cases.

 

Miscommunication (or total lack of communication) is where tempers get frayed.

 

 

This is my big issue NO communication, till its too late.

[Zula]

wel im also "the boss" and must be honest, my people come FIRST,, this **** about buying cars for company blah blah, man if you have a little extra, give a little to the people that makes YOU rich cause without them you wont be THE MAN!! they have kids etc, why cant they get 'n a little extra for their kids???? but ja you are probably a tipical director,, enjoy your money!!

 

What he said +1000

 

Staff make your business and bring home the cash. Keep them happy at all costs and dont rub it in their faces with a porsche and a boat and then no bonus in the same year. That wouldn't be cool and would be pretty stupid IMHO

[Ratty]

Now this is a major issue for me, I got royaly shafted with this last year. Now bonus time and its still not concluded. I discussed this when I was having salary negotiations when I first started, now suddenly that was never the case What leg do I have to stand on?

 

If there are no bonuses, then at least take the time to explain to the staff or managers why there are no bonuses. Don't just say no and walk out.

 

 

We get kept update each quarter as to how the company is doing and based on that, we can have a good idea on the bonus we will get at the end of the year. If the company has a bad year then our bonuses aren't great, but at least we don't have the expectation and then get let down.

[101SCC]

Interesting views, assuming everybody has worked 100%?

 

I find it interesting how many times in my business it is the guys who work just below par that expect a '13th' cheque. Funny how they never put in a '13th' effort?

 

Ironically it is the guys who work over and above the 'Contract' that quietly appreciate the little extra's the business gives them.

 

Food for thought?

[Ratty]

Just to show the flipside to this:

 

I worked in a business a little while back, it was a cash cow while the economy was good, we had international sales incentives and huge bonus's. The sales director placed an order for a very special edition Porsche. Paid cash up front. With back orders and delivery delays, it took 2 YEARS to get delivered.

 

In those two years the economy changed, legislation changed and the business crumbled. The Sales director had to initiate retrenchments in the same month that he took delivery of his Porsche. (nice, HUH?)

 

What I am saying is that it's tough being a director, it's complicated. As an employee you don't always understand everything that goes on... and what you see, doesn't always paint a clear picture.

 

Thats my point in my previous comment, paint a clear picture and then your staff won't quiet as upset.

[Carmichael]

This is my big issue NO communication, till its too late.

 

 

+1

[Icycling]

What do most of you do with domestic worker? Do you give them 13th cheques?

 

Last month I paid my domestic work a 13th and a 14th cheque as I did not give her a raise this year - is that been fair?

[Ratty]

What do most of you do with domestic worker? Do you give them 13th cheques?

 

Last month I paid my domestic work a 13th and a 14th cheque as I did not give her a raise this year - is that been fair?

 

Our Nanny gets a bonus rather than a 13th cheque. That means its at our discretion if it gets paid and how much..

 

 

I don't agree with not giving an increase and then giving a 13th + 14th cheque. I think its better for the money to be spread over a year even for people who are well eductated in finances.

The temptation to go blow the money on nice things is way too high and then people suffer for the rest of the year as food prices etc keep going up.

 

This is my personal opinion though, I'm not saying you were wrong. I just happen to be one of the people thats not very good at keeping money in my account.

Edited December 1, 2011 by Ratty

[patches]

When the recession hit, our company did the following that December (2008)

 

- Bonuses were paid in full to all staff earning less than R12 000pm

- Half bonus paid in in Dec and ther half end Feb to staff earning over R12 000pm

- Directors got no bonus in December, and had to wait for end of April for full bonus.

 

To me that sounded pretty fair. Times were tough, and the boss men realized they're tougher for the people with less to start with. Hence the strategy.

Edited December 1, 2011 by patches

[Skaap]

my wife use to work for company that sells shiny rocks.

 

their bonus was totally insane! pitty she dont work no more...

[Icycling]

Yup I actually just slipped up in not increasing her monthly wage. As I am self employed and work alone increase happen as they happen and not structured.

 

The 14th cheque was an adhok way to correct this - fortunately I do believe my domestic can manage money as she is a qualified teacher! She also has managed to save enough money for 2 years in a row to go overseas.

[D-Mike]

Our Nanny gets a bonus rather than a 13th cheque. That means its at our discretion if it gets paid and how much..

 

 

I don't agree with not giving an increase and then giving a 13th + 14th cheque. I think its better for the money to be spread over a year even for people who are well eductated in finances.

The temptation to go blow the money on nice things is way too high and then people suffer for the rest of the year as food prices etc keep going up.

 

This is my personal opinion though, I'm not saying you were wrong. I just happen to be one of the people thats not very good at keeping money in my account.

I must say, whether you call it a 13th cheque or a bonus, what difference does it make. It means extra cash at the end of the year.

 

My principle regarding the nanny is, if I get a bonus she gets a bonus and her bonus is proportionally the same magnitude as my bonus. I probably would give a bonus anyway, even if I didn't get a bonus, but thus far I have received a bonus every year

[Tiny K]

 

 

Miscommunication (or total lack of communication) is where tempers get frayed.

 

Story of my working life.....