Home – New Forums Money matters Staff profit sharing Reply To: Staff profit sharing

Paul – FS Concierge
  • Total posts: 3,488
bb1, post: 260414, member: 53375 wrote:
What a great idea, the only caution is to make sure that you leave yourself enough of the profit, but especially in a low paid industry it is great to see someone wanting to motivate the employee’s

I have seen this approach used and it has always being a failure, the employee’s just see it as the boss throwing them a crumb when his profits are down so lets try to work them a little harder, or I woke up this morning and had a thought bubble. It almost becomes a bullying tactic from what I have seen.

If it’s introduced correctly it will be a day to day motivator, as the higher the profit the more incentive (be it cash or kind), it is much more a friendly management approach then the oh lets wait and see if I’m in a good mood next month, which the first approach of throwing the bread crumb becomes.

I based my approach and the feedback I have given here on a a lot of research – best practice if you will.

It was only yesterday, I was speaking to a former staff member of mine that said that was the best place she ever worked – she is 62 years old so she has some experience.

And I have heard this same comment from other people that worked with me probably 25 or more times.

This is within the context of a super high performing team – the various programs allowed for different and regular ways to explicitly acknowledge their contributions.

Fun, excellence, acknowledgement, recognition, creativity were all drivers of the program.

I did a ton of other stuff as well to keep stimulating the staff – things like wellness programs, personal development and professional development initiatives – much of it was led by the team.

And it was within an NGO.

The point being, that we are not all motivated by the same thing and having a “new normal” – increased baseline is not motivating in the long term.