Question, do your accountants get bonuses? Almost all of my staff receive bonuses, leasing, maintenance, regionals. The only staff that don't receive bonuses are the Director (me), HR and our accountants. My accountant came to me mentioning they think they should receive bonuses because they contribute to the companies success. Tell me your thoughts, I keep going back and forth. Leasing and maintenance deserve it cause they turn the units, out there making sure they are done on time, office staff generate the leads and close the sale, regionals are out there ensuring budgets are met etc...(one other note, the accountant asking is the second highest paid position in our company.) If they do, can you share how it's structured?
I am a portfolio accountant and yes I receive a year end bonus. There seem to be some salty managers. Please get to know your corp team they are just as vital to a properties success. It was a ~2.5% of my salary, it’s not guaranteed and depends on company performance. I know my regionals and properties also
Got bonuses but I don’t know how it compares to them.
I had these same concerns brought to me after a few years of only site teams receiving bonuses.
I added in performance bonuses incrementally as annual raises were given.
They are based on the same benchmarks as mine as the Director: income growth, expenses, renewals, delinquency and occupancy.
Even at the corporate level, they actively participate in the success of each of these categories in their own way and are rewarded accordingly.
I think it's valuable to note the liability of an accountant's position. If they mess up paperwork, they could literally lose their license and never be able to do their job again. And they have to take the hack job of paperwork and processing and put it together, plus find loopholes and tweaks to save money while still reporting accurately and to the law. Their struggle may be different, but it has no less value and should be treated as such.
I've also seen the absolute nightmare of invoices some folks have to deal with on top of things always being late or half done. You don't even know the holes they fill or the fires they put out most of the time, especially if they're good at their job. Maybe treat them like the valuable asset they are because your day to day and property pocketbook would be very different without them.
I don't think "Bonuses" should be given to all, I think they should be given based on performance, attendance, and their general attitude.
Thinking back on a post someone posted about staff that did NOT want to go to another property to help out, although I would say they deserve a bonus for their preformance at their primary property, for those that went to help ot at the other deserve even more.
Yes they should get bonuses. As should you and HR. Come up with incentives and a scorecard. If they achieve then bonus is earned. Such as 10% of salary earned quarterly ( 10 split into 4)
So you give a bonus to leasing and maintenance for doing their jobs but not the accountant?
Just because they are not forward facing doesn’t mean they don’t deserve a bonus. Annual salary shouldn’t matter either.
I am HR/Payroll and if annual bonuses are given, we all get them
An easy bonus could be $175-$500 per year of service as a gesture of appreciation. They have no doubt saved you more than once on preventing double paid bills and catching billing errors. Yes, accountants are crucial to the process and help the onsite teams tremendously.
All members are vital, otherwise, why are they there? Doesn't matter how high paid they are, they work hard to keep the wheels moving and deserve equal recognition.
Your on site employees are the work horses! Corporate employees seem to forget that “they” are the support for the on-site team, not the other way around. I see this from company to company. If you have an employee that would like to receive a bonus you might encourage them to transfer to an on-site position. Then and only then will they truly see the differences in the workload. I do not feel a corporate employee should be paid a bonus!
Ok first ownership isn't recognizing your work with a bonus?? That seems odd, is your compensation tied to performance in another way? Also what exactly are you "director" of, if you don't have the autonomy to decide who get's bonuses etc? That seems like local corporate liaison rather than director.
Our corporate office receives a Quarterly NOI bonus based on the performance of the properties. If a property makes their NOI bonus a portion goes into the home office "pool". The pool is then divided between home office based on tenure and position.