Incorporate Bartercard into your payroll

Bartercard Trade Pounds may become an integral part of a business’s payroll. A business owner is able to take dividends or some drawings from the business in Trade Pounds or they may pay their staff a combined income of cash and Trade Pounds.

Bartercard members may implement three strategies to incorporate Bartercard Trade Pounds into their payroll. These include:

1. Setting up a staff account that is linked to their main Bartercard account (Parent/ Primary). The Bartercard member is thereafter able to pay Trade Pound dividends, bonuses or part of an employee’s wage into this account.
2. Provide their employees with Bartercard gift certificates, which they are free to spend at any Bartercard business.
3. Periodically purchase a particular product or service on behalf of an employee, and thereafter deduct the expense from their employee’s wages over an agreed period of tim

Examples of members incorporating Trade Pounds into their payroll.

Case Study 1
A Bartercard advertising agency pays their staff a Bartercard Trade Pound commission.
Aim/Objective:An advertising agency wanted to devise a way in which to motivate their staff to increase their sales.
Method/third party story:The advertising agency owner requested to open five Bartercard staff accounts. He advised all his staff of a new ongoing sales promotion he had devised whereby, if they increased their sales over and above the set weekly levels (for which they currently received a cash commission), they would be rewarded with double the commission per additional sale, paid for with Bartercard Trade Pounds into individual Bartercard staff accounts.

Outcome/Conclusion:Once the staffs were aware of the various spending areas available to them in Bartercard (as advised by the Trade Co-ordinator and the advertising agency owner) the number of sales increased by 20% across all staff.

Case Study 2
A hotel owner rewards long serving staff members
Aim/Objective:To reward long serving staff and maintain a staff retention program.
Method/third party story:
A hotel owner held a staff meeting where he formally recognised and praised his long serving staff members. He advised them he was so impressed with their good work and effort over the years, as a reward he wished to offer financial assistance with purchasing goods or services they couldn’t ordinarily afford. The hotel owner offered to pay for the goods and services on behalf of the employee. The hotel owner asked the employees to consider, over a period of a week, if there were any requests that the hotel could assist with and if so, to advise his financial controller.

Outcome/Conclusion
One of the housekeepers approached the financial controller and asked if it would be possible for the hotel to hire a juke box for her daughter’s 21st birthday party. This was swiftly sourced on Bartercard. The housekeeper was thrilled, as she had never thought to ask her employer for assistance in this manner. The hotel owner was happy, as he was able to assist one of his long serving staff members