Category Archives: Holidays

Easter’s Lessons for Business

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This year, the month of April ushers in the celebration of Easter. Whether Christian or otherwise, it’s a happy day full of new life represented by baby chicks, decorated eggs, organized and disorganized egg hunts, and bunny rabbits. For believers, it’s 40 days of prayer and fasting culminating in a procession of Good Friday, Holy Saturday, the Easter Vigil and finally Easter Sunday.

Tulips and Easter eggs in grass under a sunny blue-green sky.
Easter Season and Springtime are both Great Times for New Ideas

Christian traditions have their own special emphases for Easter, but most Americans of all walks and beliefs celebrate with lamb dinners, eggs, ham, cheeses and breads. Children have been decorating Easter eggs, and grownups have been hiding the same for the children to find since the 13th century.

In the early 1870s, children would gather on the grounds of the U.S. Capitol Building to roll their eggs and play on Easter Monday. Then in 1878, First Lady Lucy Hayes (wife of President Rutherford B. Hayes) held the first annual Easter egg roll on the White House lawn, a custom that has survived to present times. There’s a story about one small boy who complained to President Hayes that the children would no longer be allowed to roll eggs near the Capitol Building because it was ruining the grass. Then he asked the President for permission to use the White House lawn. Obviously, the President agreed and the traditional White House Easter egg rolls continue to this day. Business lesson: never be too shy to ask for what you want.

As small business owners, we can celebrate the season with Game Changing ideas:

  • Determine the values and technologies that can remove barriers to scaling your business.
  • Develop a clear vision of your client base or portfolio and write a laser-focused value proposition based on where you are now compared to where you want to be next spring.
  • Dedicate safe but significant funding to your ideas once you can demonstrate viability and expansion.
  • Use technologies to capture data that will help you continually improve performance and delivery quicker responses to customer/client concerns.

Think resurrection and have a safe and Happy Easter season.

Looking Toward the Christmas Bonus

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As we barrel into the Christmas season, many small business owners are thinking about the annual Holiday Bonus. Owners want to let their employees know that their hard work is appreciated, and workers look forward to having that extra cash to spend on their family during the holidays.

FUN FACT
The first recorded Christmas Bonus was given out by Woolworth’s in 1899. Each employee received a $5 bonus for each year of service, up to a maximum of $25.

So what is a small business owner’s typical bonus? For some it could be nothing more than an office party with food, drink, and small gifts…even gift exchanges (which cost each individual employee more and misses the entire message of “you’re appreciated”! )  While there’s no standard rate for performance bonuses, surveys report a range from 1% to 10% of an employee’s annual salary when goals are met. Of course, executive bonuses may be much higher.

Your profits vary from year to year in line with the rate of inflation and whether it’s been a lean or lucrative year. If a company has paid cash benefits in the past, then employees may be expecting and counting on a Christmas bonus to pay for their own holiday expenses and family gifts.

If this year was more profitable than last, then it is time to show your appreciation. Employees, by far, prefer receiving cash bonuses, but if your’e a lean startup or coming off a difficult period, there are other ways to show your appreciation for their loyalty. 

At the annual Christmas party, be sure employees understand that this party is in appreciation for them! During the party, recognize each person individually with a compliment and sincere thank you. If appropriate, it’s a good time to announce new job titles or that “John” or “Jane” will now have extra responsibility because of their past performance. Announce new learning opportunities for the coming year that could lead to pay raises. Or give the second most appreciated gift, paid time off, even if it’s just a day.

The post-Covid year of 2022 has seen the so-called “great resignation” with many people quitting their job to start their own business or to change employers and even careers. Plan now how you can show your appreciation this holiday season, whether or not it be a financial one.

Footnote: For more ideas, we suggest reading 12 purpose-filled alternatives to the Christmas bonus from Management 3.0.