Each 4 years, there’s one further day in February. The Smithsonian explains that bissextile year is just not as simple as an additional day each 4 years, however I’m good with the non-technical bissextile year. How does this further day have an effect on your corporation?
Intercalary year and your small enterprise
Worker compensation
The impression of a bissextile year in your payroll is dependent upon whether or not staff are hourly or salaried staff.
Hourly staff. They’ve an additional day of labor for which they’re paid. This yr, February 29 falls on a Thursday, which is a workday for a lot of staff.
Salaried staff. They don’t achieve further pay due to the extra day of labor. Their pay is figured on a yearly foundation and unfold over the pay intervals. The additional day doesn’t change this association.
All staff who’re paid on the final day of the month should wait one further day for his or her compensation.
Gross sales
A bissextile year is a chance to create particular advertising occasions. Some options:
Leap Yr Day contests
Gross sales with 29% low cost for the day
Sure, there’s one further day of gross sales for the month. However the impression of yet one more day goes past a possible income pop. Take into consideration what the additional day means for scheduling deliveries.
Be certain customer support can deal with inquiries about promotions, deliveries, and different issues associated to this one further day within the month.
Different issues
What else are you able to do with one further day? The extra work hours might be spent:
Planning for your corporation
Reviewing insurance coverage protection
Networking with different enterprise house owners
Taking a one-day course or coaching
Listening to podcasts (catching up on these you missed however wished to listen to)
Taking day without work; stress-free
Closing thought
Hiscox lists 29 ideas for small companies to maximise leap day. You might have 4 years to plan for the subsequent bissextile year.
