Andy Puzder, the former CEO of Carl’s Jr. (why is no one hiring this guy to run their company?) had a good article in the Wall Street Journal this past week about giving your workers a tax cut bonus.
They’ve probably noticed that workers in other larger companies are getting bonuses, or stock, as a result of the tax cut, and might be wondering ‘ok, what’s my company going to do for me?’
We would think that their actions might put the owners of smaller and medium sized businesses in something of a box. Yeah, you got a tax cut, and yeah, you’d like to give some of it back to your workers, but what and how much?
We think, after you’ve looked at the pot of after tax earnings that will obtain after the tax cut, then you can figure out what to do. You might not have enough spare cash lying around to give $1,000 per, unless you did it every month, and you don’t want to give up any stock, even on a restricted basis.
So, first figure out what you CAN afford, and then take it across the board for the rank and file. They probably figure that you and your exec team are going to get some of the cut money, but it’s right and proper to give them some, too.
- $500 per worker
- A cruise for each
- Extra vacation time
Anyway, think on it, and we’ll look over the comments on this blog post to see if we get some good ideas.
PS: we forgot to include a wage increase as one of the things one can do for your workers. How long has it been since they had one?