How to Keep Your "A" Players #8: Provide Financial Incentives

Attracting and retaining talent is essential to scaling your business successfully. This is especially true for your “A” Players. Let’s continue visiting with our friend Frank.

Frank was sitting in his office feeling great about his team and the company in general. He was thinking about how he could improve the communication and processes in his team to get even better results. He was especially excited about figuring out a way to hit the quarterly target for his team that would give them all nice bonuses.

I get it. You’re an entrepreneur, and you’ve taken a lot of risk to create a profitable business where others can work. Clearly you deserve the greater rewards that come with greater risk.

In terms of long-term financial success, however, you can do better by sharing your success with your team. No, I’m not talking about “giving away the store,” but rather a balanced incentive program (e.g., bonuses, profit sharing, phantom stock, etc.) that aligns your goals with your team’s goals and keeps your business operating at peak performance.

Don’t be a stranger. (770) 993-1129, tdockery@TheResolveFirm.com