Step Six: Rewarding Employees
Bonus Plans
Is your current bonus plan not working? Have you avoided installing a bonus plan because you're afraid it won't work properly? These are the issues we've seen with many companies. After studying hundreds of bonus plans and the reasons they failed, Steve Wilson developed The Bucket Bonus Plan. The "Bucket" Plan has been recognized by INC Magazine, the US Chamber of Commerce, the National Center for Employee Ownership and several other business organizations as a simple, effective and virtually "fail-proof" bonus system.
Rather than calendar-based (quarterly, annual), the Bucket Plan is based on increments of profit. When the company fills a "bucket" with X dollars of profit, a bonus is paid. Fill more buckets and get more bonus checks! Although the Bucket Plan is relatively simple to design and install, there are many subtle tips and issues that should be considered. We will gladly review your current bonus plan, and help you develop a more effective plan. Steve is the author of "The Bucket Bonus Plan", copyright 1998. You can request a copy of his book using the "Contact Us" page.
Bucket Bonus Plan, INC Magazine Article
Open-Book Management
If you really want to reward your employees, get them actively involved in your business.
With every body, you get a free brain!
Open-Book Management (OBM) and the Great Game of Business are related management systems that overturn a hundred years of managerial thinking. These new management systems get every employee to think and act like a businessperson - to compete - and they produce astonishing results.
- Every employee sees and understands the company's critical numbers.
- Everyone knows how their actions move the numbers in a positive direction.
- Every employee has a direct stake in the outcome.
That's Open-Book Management! We can help you implement Open-Book Management, or the Great Game of Business, and guarantee you will see positive results within a year.
Open-Book Management, INC Magazine Article