In December, I wrote about the dysfunctional behaviors that Christmas bonuses can cause. I encouraged you to get your client to hold off on promising anything until the concept of performance-based compensation could be thoroughly explored. It's not that all bonuses are bad, but they are certainly not created equal. Dan Pink speaks to this very point on this ted.com video: http://www.ted.com/talks/dan_pink_on_motivation.html Read more...

McGladrey & Pullen has promoted Richard Bailine to Washington national tax leader at the firm's Washington D.C. office. Baline has more than 30 years of experience in corporate tax, including extensive experience in transactions, including mergers, spin-offs, internal restructurings and cross-border acquisitions. Prior to joining McGladrey, he was principal-in-charge of KPMG's Corporate Tax Group in the Washington National Tax Practice.

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It's that time of year when everyone starts to wonder about their Christmas bonus. "Will there be one? How much? How much compared to (insert co-worker's name)?" Call it a Christmas bonus, call it a year-end bonus, or call it for what it is, an entitlement. That's right an entitlement. I know I sound a bit "scrooge-like" wanting to take away Tiny Tim's Christmas fun but this seemingly innocent act of handing out money as a reward for unspecified activities sends a dysfunctional message to the team. Unfortunately most business owners have gotten themselves locked into the "forever" bonus that ends up (in the employees mind) being an expected part of their compensation package. Most have got it spent even before it is handed out.
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I am excellent at screwing up my business. I sell to customers who can't pay, hire people who don't work and rely on vendors who don't deliver. I purchase outdated technology, say the wrong things to the wrong people and I'm terrible at making plans. But somehow and despite my best efforts, my company continues to be profitable.Of course, we could be more profitable if I didn't keep making so many mistakes. And I certainly don't need any more help in that department. But the problem is my business, like most small businesses, is vulnerable to potential mistakes that could be made this year in Washington. Mistakes that could really screw things up. A few come immediately to mind. Read more...