Year End Bonus

Ron Henson
Does your dealership do year end bonuses? We used to payroll deduct $5 per car from the sales consultants (if they chose to participate) at the time of sale and then in December we would match $2.50 for every $5 accrued and use it as a year end bonus for them. Essentially, it was a savings account with a 50% return that matured right before Christmas.
Steve Tuschen
That is a good idea. We don't do anything along those lines. We do give a cash bonus typically at our Christmas party it has been anywhere from 100 - 500 per employee.
Tony Wood
The setup with this auto group is that they put so much away per warranty sold across all 7 dealerships. At the end of the year, the total is divided among all of the employees that have been active for 6 months or more and that is the bonus.
Clint Jones
Group that I worked for withheld $12.50/unit sold, and matched it with $12.50/unit ($25/unit) and paid it out the first payroll of December. Technicians was $0.125/FRH, with the same match setup.
Adam Shiflett
Love the ideas. Bonuses are a great way to retain and reward the best performers. If they know they have something to look forward to it gives them a reason to stay. With that in mind would it be better to do a quarterly bonus instead of a yearly?
Clint Jones
@Adam. The advantage of the annual over quarterly is the motivation to stay. Some of these employees were looking at a pretty substantial sum of money, and by May it is too much to walk away from. Pay it quarterly and you lose employees.

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