2018-03-27 07:42:42Managing EmployeesEnglishMotivate your employees, encourage their continued employment with your organization, make them feel important, and boost morale with...https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/03/Part-Time-Employee-Smiles-After-Receiving-A-Bonus.jpghttps://quickbooks.intuit.com/ca/resources/managing-employees/part-time-bonus/Why You Should Give Periodic Bonuses to Part-Time Employees

Why You Should Give Periodic Bonuses to Part-Time Employees

1 min read

If you have job vacancies in your small business, you’re not alone. With more than 360,000 job vacancies across Canada, employers are scratching their heads trying to figure out where to find workers and how to keep them on staff, especially in traditionally part-time and low-paying positions. If your company doesn’t offer high-wage, full-time jobs, and you’re having a hard time filling positions, bonuses are an effective way attract and keep employees who might otherwise go elsewhere.

Offering part-timers bonuses reduces your employee turnover. Employees earning minimum wage sometimes feel they have nothing to lose if they just walk away from a part-time job. If you offer bonuses based on accumulated hours or tasks, your employees have an incentive to keep showing up, especially if they have a competitive streak.

Bonuses can also motivate your workforce if you structure them just right with increased productivity in mind. Sign-on bonuses, daily bonuses, or spot bonuses may inspire your part-timers to produce more. Be ready to pay those bonuses out quickly, since lower-paid part-timers may not expect to still be around for bonuses paid quarterly — or worse, annually.

Part-time employees feel insignificant at times, but that can change if you offer bonuses for innovative ideas. For example, offer bonuses to part-timers who have ideas that help get work done more quickly or efficiently. If part-timers’ or freelancers’ work contributes to your company snagging a client or contract, hand out a bonus to say thank you.

Just like your full-time employees, part-timers can be significant contributors to your company’s success. Offering bonuses is one way to assure these workers that, yes, they’re part-time, but they’re still valuable members of your team.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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