Holiday Bonus Time
‘Tis the season! In this blog, we’ll address your frequently asked questions about providing a holiday bonus for your nanny.
What is a Holiday Bonus?
A holiday bonus is additional compensation that employers may offer as an acknowledgment of a job well done. Many employers find that providing holiday bonuses boosts morale and enhances employee retention.
How Much is Appropriate for a Holiday Bonus?
The appropriateness of a holiday bonus depends on the household budget. It can be a fixed sum, a percentage, or determined by other factors set by the employer. You may consider offering 1-2 weeks’ worth of pay for an established and high-performing nanny.
What If We Just Hired our Nanny?
For a newly hired nanny, offering one day of pay for each month of employment is a thoughtful gesture, considering bonuses are typically based on performance.
What Are Some Alternatives?
Gift cards and personal gifts, such as handmade artwork or cards, are enjoyable alternatives. Extra paid time off is also a considerate option, allowing your nanny time to relax and recharge.
What Are the Tax Requirements of a Holiday Bonus?
Holiday bonuses are considered taxable income. Ensure compliance with household employment requirements by processing the bonus through payroll. If possible, consider adding a little extra to help offset taxes.
Conclusion
A holiday bonus or a heartfelt gift is a wonderful way to express appreciation for your nanny’s contribution to your family! If you have any questions, feel free to contact Starling Agency.
More from Starling…
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- Guide To Nanny References
- Benefits of Working with a Pro Nanny Agency
- What’s a Household Manager?
- What’s a Family Assistant?
Starling is a stellar nanny placement agency proudly serving Greater Seattle and the Eastside. Starling nannies are passionate about education and child development! We represent professional nannies, private teachers, newborn care specialists, household managers, family assistants, personal assistants, and more. Learn more about Starling’s core values.