Owner To Owner Podcast

Darren Bourke Business Coach to SME owners on effective ways to incentivise employees and improve business performance.

Episode Summary

Darren Bourke has coached and supported SME business owners for more than 25 years. Following on from our recent discussion - Episode #119 - Darren and I talk about different types of employee incentive schemes, when and how to introduce them, and finally how they can shift employee behaviour and change business performance when done well.

Episode Notes

@DarrenBourke is a #businesscoach and #mentor to #smebusiness #owners.

He's worked as a chartered accountant with @Deloitte and @pitcherpartners, had a #HR startup and authored @thefourthmoon.  

In this episode we talk about #employeeincentiveschemes, we cover;

• different kinds of incentive schemes 
• the quantitative and the qualitative aspects of looking to engage, empower, motivate, and most importantly, retain our existing labor, but also to attract new talent
• some of the common forms of  pushback and objections, both from employers and employees
• why your focus needs to be on your brightest, your best and most loyal ongoing team members. 
• the 3 tier hierarchy;
  1. #bonuses ( then target bonuses, then kicker bonuses)
  2. #profitshare
  3. equity or share of the business 
• when and how to introduce them 
• how a bonus scheme is an entree to moving forward with these incentive schemes. 
• employee incentives leading into a #businesssale
• the role and importance of non-financial benefits 

www.darrenkbourke.com/