Hi entrepreneur,
Incentive programs will either boost or break your company's spirit.
It's only natural to roll out a profit-sharing plan to your employees that you want to feel invested in the company.
On paper, it's a slam-dunk motivation bonus for your team. Everyone makes a share of the pie, so more weight can be taken off your shoulders… right?
After decades as a business owner running multiple companies on the INC 500 & 5000 list, I've seen profit-sharing plans go in two directions:
(Outcome A) A powerful tool that operates on transparency to allow employees to refuel their own motivation tank for your product & company, year over year.
(Outcome B) A de-motivating anchor that keeps your employees anchored to "the status quo," they gain no positive motivation towards the company. (Often even having the inverse effect, where employees gain resentment from an unclear incentive program).
The hard part about Outcome B is the double-whammy of a de-motivating impact on your team and the hole in your profit margins that could have been used to re-invest into building your company's future.
In my experience, a great incentive plan will accomplish 3 things:
- Simple and Clear to Calculate.
- Be Self-funding. (Paid out of new growth)
- They use Transparency to stay Aligned.
I created the IncentiveWise Planner™, which I'm sharing with you today, to help you build customized incentive plans that unlock your team's potential, instead of stifling their motivation.
You can access the tool here along with an exclusive Founders Board workshop recording where I take a deep dive into the pieces of a great incentive program and how you can implement this incentive calculator in your business today.
If you have any questions about the tool, or anything specific for your business, let me know with a reply.
Happy Scaling,
Ryan Deiss
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