Ferrari Gives Every One of its Employees an Impressive Bonus

Cool, that would almost cover a set of floor mats..

Too funny!

Outstanding gesture by the management team!

Unimpressed as well. A local furniture store chartered an airplane and flew all of their staff to Bermuda for a weekend, about a decade ago.

My dentist closes in the summer for a couple of weeks for the company trip. Employees get to choose where, anywhere. Actually, they are running out of exotic places to visit because he's been doing it for over twenty years, and needless to say his employee turnover rate is exceedingly low. Spouses go, too.

By the way, this trip is in addition to regular vacation time.

before the housing market tanked (2008), our small company was doing well enough that we were able to give handsome bonuses (minimum of $10k for the new guys). Obviously this built loyalty to the company which somehow backfired on us. The company still make money, but the introduction of the high efficiency furnaces made our best moneymaking product line obsolete so we are obviously making less money now - after receiving big bonus checks twice a year for many years, most of the guys grumble when they get their bonuses (still bigger than what Ferrari gives out :b). I just tell my staff that we should be thankful of what we still get instead of complaining and comparing it to what we used to get. Building staff loyalty is good because it help us keep skilled workers (our company's current average length of service is over 14 yrs), but at the same time bad because our average pay is well above industry average. I have to watch our overhead and material cost like a hawk and operate without an admin assistant. etc..

The coolest thing our 86 yr old president did - he sold half of the company (and building) to us at well below market/book value.

Mosin said:

My dentist closes in the summer for a couple of weeks for the company trip. Employees get to choose where, anywhere. Actually, they are running out of exotic places to visit because he's been doing it for over twenty years, and needless to say his employee turnover rate is exceedingly low. Spouses go, too.

By the way, this trip is in addition to regular vacation time.

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Wow, that's kind of over the top. I have heard of dentists who did extravagant stuff to keep the employees happy, but went bust or sacrificed their own saving ability to do so. From what management wisdom I have heard, too many perks make the employees predatory and spoiled, not necessarily good workers, unless the dentist is doing something illegal or is having affairs.

I heard of one dentist many years ago in Contra Costa County who committed suicide and left the employees the practice in his will. They wound up hiring dentists to do the work.

cjfrbw said:

Wow, that's kind of over the top. I have heard of dentists who did extravagant stuff to keep the employees happy, but went bust or sacrificed their own saving ability to do so. From what management wisdom I have heard, too many perks make the employees predatory and spoiled, not necessarily good workers, unless the dentist is doing something illegal or is having affairs.

I heard of one dentist many years ago in Contra Costa County who committed suicide and left the employees the practice in his will. They wound up hiring dentists to do the work.

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This guy does extremely well because he and his team really are a well oiled machine. There are no slackers, and no one has an over-the-top ego for the others to tolerate. They all do quite well because they have a common interest in success. The girl who cleans my teeth owns several mortgage-free houses, for example.

It's interesting that you mention predatory employees. I once had a customer who owned an appliance company. Two women went to work for him in sales. They replaced five, or six, men, by the way. Anyway, they were so competitive and predatory that the owner was practically left out of the mix. It got to the point that he had no control over the inventory selection, the inventory level, the business model, or the profit structure. They pretty much set their own income, too. That sounds bad, but those two turned a so-so company into a raging success. My dealer had little to do besides draw a fat check and play golf. I never heard him bitching about it, but I saw him shake his head in amazement at times.

It's certainly possible, it would have to be quite a business model. Putting the whole practice on hold for the office to go on a group vacation sounds unusual.

I remember working for a dentist who had six offices and one really big one where I worked for a short time. At the Christmas party, he gave everybody a $300 bonus across the board. All it did was cause incredible dissension, because some employees thought they deserved more and didn't like being put on an even keel with the ones who they thought didn't measure up. He almost lost 20 percent of the staff right there. It was an odd lesson in management.

Another large group of offices I had worked for, where there were lots of perks, also went bankrupt for sundry reasons that I won't go into, but some very strange stories.

Maybe I am the harbinger of doom, every large practice I worked at in the earlier days wound up going bankrupt eventually. People made money, I guess, and the employees did well as long as they lasted, but the businesses required such huge cash flows, any tilt toward the red put them under.