Lorman offers professional resources regarding COVID-19 and the 2020 Election

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OnDemand Course

Examining Bonus Strategies

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.

91 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 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 34 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

OnDemand Course

This course was last revised on October 15, 2020.

Call 1-866-352-9540 for further credit information.

  • 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, complete all progress checks and pass the final exam. You cannot obtain credit if you have already completed this course in its live version.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 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 H. Zietlow

Mark H. 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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Why Lorman?

Over 34 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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