I’ve been involved in labor contract discussions this week. The workers actually asked for a 5% raise above their annual raise for completing 5 years of service. They also wanted 10% for completing 10 years of service. This would be a bunus for hanging around.
Nobody mentions merit these days. Can’t bonuses be given to employees that actually make a positive contribution? If an employee saved the company a lot of money by proposing a major cost-saving measure, wouldn’t THAT be worth a major bonus? If an employee did something to increase sales, wouldn’t THAT be worth a bonus? Lots of companies award “suggestions” with little cash prizes.
I’m suggesting that companies give serious bonuses to meaningful innovations. If an employee adds a measurable $10,000 to your bottom line why not give them $2,000? If an employee knows he has the opportunity to get a big reward for a big idea, he will come up with a big idea.
Get the word out. It’s worth it.
Chris Reich, Author of TeachU’s Business Talk Blog