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A tartalmat a Kelly Roach biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Kelly Roach vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
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1180. Designing Incentive Plans That Motivate Your Team Without Breaking the Bank

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Manage episode 516007921 series 3559852
A tartalmat a Kelly Roach biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Kelly Roach vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.

One of the hardest parts of scaling a 7 or 8-figure business, is being able to balance rewarding your team with protecting your company's profitability.

In this episode, Kelly discusses how to design compensation and incentive plans that motivate and inspire your team to perform at their best, create simultaneous promotion of interests (good for the team, the client, and the company), and keep your business financially healthy and sustainable

If you've ever wrestled with questions like: "how do I pay competitively without overextending the business?" or "should I give raises or one-time bonuses?" this episode is a must-listen.

You'll learn:

  • The #1 mistake business owners make when designing incentive plans, and what every compensation plan should start with instead

  • How to structure incentives so your team can earn 6 or multiple 6 figures while the business remains profitable

  • The 4X Method: how to ensure every hire brings in 4x what they cost

Timestamps:

01:16–03:10 – Why every compensation plan should be designed one year at a time. 03:11–05:20 – The "simultaneous promotion of interests" principle: good for the team, clients, and company. 05:21–07:00 – The biggest mistake leaders make: constant salary increases instead of incentive pay. 07:01–09:00 – Why one-time bonuses protect your profit and performance. 09:01–10:30 – Start with your profit plan: reverse-engineer roles that bring in 4x what they cost. 10:31–12:15 – How to cap salaries like a sports team to sustain profitability. 12:16–13:45 – Transitioning old incentive models to fit new business offers or pricing structures. 13:46–14:45 – The power of creating multiple income streams for your team tied to performance. 14:46–15:15 – Invitation: Join the October 30th 4X Method training + March Legacy Leaders Immersive.

Resources:

  continue reading

1200 epizódok

Artwork
iconMegosztás
 
Manage episode 516007921 series 3559852
A tartalmat a Kelly Roach biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Kelly Roach vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.

One of the hardest parts of scaling a 7 or 8-figure business, is being able to balance rewarding your team with protecting your company's profitability.

In this episode, Kelly discusses how to design compensation and incentive plans that motivate and inspire your team to perform at their best, create simultaneous promotion of interests (good for the team, the client, and the company), and keep your business financially healthy and sustainable

If you've ever wrestled with questions like: "how do I pay competitively without overextending the business?" or "should I give raises or one-time bonuses?" this episode is a must-listen.

You'll learn:

  • The #1 mistake business owners make when designing incentive plans, and what every compensation plan should start with instead

  • How to structure incentives so your team can earn 6 or multiple 6 figures while the business remains profitable

  • The 4X Method: how to ensure every hire brings in 4x what they cost

Timestamps:

01:16–03:10 – Why every compensation plan should be designed one year at a time. 03:11–05:20 – The "simultaneous promotion of interests" principle: good for the team, clients, and company. 05:21–07:00 – The biggest mistake leaders make: constant salary increases instead of incentive pay. 07:01–09:00 – Why one-time bonuses protect your profit and performance. 09:01–10:30 – Start with your profit plan: reverse-engineer roles that bring in 4x what they cost. 10:31–12:15 – How to cap salaries like a sports team to sustain profitability. 12:16–13:45 – Transitioning old incentive models to fit new business offers or pricing structures. 13:46–14:45 – The power of creating multiple income streams for your team tied to performance. 14:46–15:15 – Invitation: Join the October 30th 4X Method training + March Legacy Leaders Immersive.

Resources:

  continue reading

1200 epizódok

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