Recognize those who deserve it!

By: Cathy Hagan, CBA

As the end of 2012 rapidly approaches with trepidation about what lies ahead for the economy and your business, small business owners still want (and need) to recognize employees for their performance and customers for their loyalty throughout the year.  Consider these tips:
• Tie employee bonuses to goals. Bonuses should be non-subjective, measurable, and performance-oriented. So clearly align bonuses with company or staff goals. If you did not set goals with staff this year but still want to give bonuses, consider tying employee performance to recognized company goals.
• Acknowledge all staff. When allocating bonuses, don’t forget the behind-the-scenes people who have helped craft the successful client presentations and made the travel arrangements possible. Try to include them in your bonus-giving plans.
• Give the gift of time. If you can’t afford to give bonuses this year, give the next best thing – time. Extra time off during the holidays, or an opportunity to come in late one day a week, for example, demonstrate your appreciation of your staff.
• When giving gifts to customers, promote products from other small businesses.
• Consider charitable contributions. If your customer is involved in a specific cause or group, consider giving to that charity. Making donations on behalf of the people on your list can be a meaningful way to say thank you.

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