Financial Confidence | Bonus Incentive Plans For Employees: What’s The Point?
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Bonus Incentive Plans For Employees: What’s The Point?

Bonus Incentive Plans For Employees: What’s The Point?

When I ask business owners about the possibility of installing an employee incentive plan, I often hear one of two responses:

  • “I would like to do something to reward my key employees for their performance. ” OR
  • “You know, one of my best employees left last week for a company for more money. I think I’d better do something to stay competitive in the marketplace.”

May I suggest that these two motives are not nearly self-serving enough? The purpose of installing a bonus plan for your employees is to motivate them to help you reach your exit goals.

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