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Live Webinar

90-minute live streaming program
  • October 15
  • 1:00 - 2:30 pm EST

Examining Bonus Strategies

October 15

Learn about innovative options to provide bonuses, as well as how to establish an employee bonus program in compliance with applicable laws.

Obtaining and retaining employees who are motivated and loyal is a difficult task. Determining the appropriate way to appreciate your hard workers is an advantageous tool for any employer looking to boost morale and revenue. Employees have had it rough in the coronavirus day-in-age, where a majority of their time has been spent at home, at work, or at their home office. This topic will provide innovative options for employers to provide bonuses, as well as summarize how to establish and administer an employee bonus program in compliance with applicable laws and regulations. Establishing the appropriate bonus plan tailored for your company will be discussed, whether you prefer to recognize individual accomplishments, team goals met, or the entire company’s financial achievement.

Learning Objectives

  • You will be able to define common types of bonus plans to provide you with ideas on how to implement workable policies to grow, motivate, and retain employees.
  • You will be able to describe how to market your company’s bonus plan to draw in new talent and retain the employees that are essential and loyal to your business.
  • You will be able to identify the appropriate bonus structure to enhance performance, quality, and efficiency of your business.
  • You will be able to review legal considerations that may affect how you implement the bonus plan.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Developing the Bonus Program That Is Right for Your Company
  • Company-Wide Bonuses for Financial Achievement
  • Individual Incentive Bonuses
  • Team Incentive Bonuses
  • Bonuses for Performance, Retention, and Referral for Employees
  • PTO and Other Non-Monetary Ways to Incentivize
Factors to Help to Determine Employee Eligibility
  • Eligibility and Implementation of Bonuses for Salaried Management
  • Eligibility and Implementation of Bonuses for Hourly Production Employees
  • Eligibility and Implementation of Bonuses for Commissioned Sales Employees
Legal and Other Considerations of Bonuses
  • Fair Labor Standards Act and Applicable Updates to Bonus Plans
  • Effect of Bonuses Being Classified as Supplemental Wages for Employers
  • Potential COVID-19 Considerations for Bonus Plans
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.5 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety and use the streaming option, as well as enable (and complete) the required progress checks.
     
  • HR Certification Institute 1.5
     
  • This program has been approved for 1.5 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.5
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
     
  • CPE 1.8 including Personnel/HR 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Personnel/HR for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for human resource managers, payroll and benefits professionals, presidents, vice presidents, business owners and managers, bookkeepers, accountants, CFOs, and controllers.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michelle Harris

Michelle Harris

Innovative Law Group

  • Attorney in the office of Innovative Law Group
  • Practices in the area of employment law
  • Admitted to practice in Michigan and Colorado
  • J.D. degree, Michigan State University College of Law; B.S. degree, Grand Valley State University
  • Can be contacted at 616-392-4100 or [email protected]
Mark Zietlow

Mark Zietlow

Innovative Law Group

  • Attorney in the office of Innovative Law Group
  • Frequent lecturer on business law
  • Represents innovative companies on the cutting edge of technology, retail stores, distributors, service firms, manufacturing companies, and suppliers
  • Admitted to practice in Michigan, Ohio, and the U.S. Tax Court
  • J.D. degree, The Ohio State University College of Law; M.S. degree, the Grand Valley State University Seidman School of Business; M.A. degree, The Ohio State University Graduate School of Public Policy and Management; B.A. degree, Capital University in Columbus, Ohio
  • Can be contacted at 616-392-4100 or [email protected]
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407625
Published 2020
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