Christmas bonuses for staff

YourFavoriteAgent

New Member
1
Hi All,

Just curious what other Principals use to calculate Christmas/EOY bonuses for their staff in a primarily P&C agency? How do you measure performance for your CSRs vs Producers? Any feedback would be greatly appreciated!
 
Caveat, not an agent.

In two different manufacturing companies (of 200-300 employees) where I used to work, Christmas bonuses were based on length of employment.

As an example, say $50 for 0-5yrs, $75 for 6-10 yrs, $100 for over 10 yrs. Not sure what kind of income and income tax reporting requirements you get into with the cash bonuses. Might want to consult with your payroll or tax advisor about that.
 
The company I worked for didn't give us Christmas bonuses. The year end bonus was based on a combination of the company profitability and our performance and usually ran to a few thousand dollars. I retired at the end of August 2006 and never thought about the bonus one way or the other. Just completely slipped my mind. Imagine my surprise, shock, and elation the following March when I got a $3500 bonus check in the mail.
 

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