kerr capital

@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/

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.smallbusinessbanter.com.au

@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 the post pandemic shift in power from employers to employees. In past more than 50% of his  conversations were about people - internal, sometimes external, sometimes partnership or family business issues. But what's happened is that people issues have probably 10X'd through the pandemic. His work went from consulting, coaching and mentoring through the pandemic to basically welfare and checking in on my owners and helping them hold the fort together. Since coming out of the pandemic Darren (and his clients) have been struck by this incredibly new emerging workplace, the virtual or #hybridworkplace, and the issues that came out of that.

And of course, there was no roadmap for that. In our discussion we talk about;

• the shift in power 
• the 8 to 10 years leading up where we didn't have a lot of real wages growth
• how we have fast forwarded 10 years plus of workplace evolution in 1 to 2 years
• working remotely
• tree change, sea change
• changing the way our family or household dynamic interacts with work
• the many challenges for the employer to catch up, how they marry up their offering to their employee cohort based on these new expectations, wants and demands of the employee cohort.
• the splintering of the connectivity between owners and management, and their operational frontline workers
• #productivity 
• #virtualworkplacer
• the value of having that human, in-person contact
• the reset of the traditional #orgchart 
• the end of the master servant relationship, and move to a more collaborative, consultative, fluid working model
• #marketsalaries as a north star, and paying at or above market salaries
• merit-based increases 
• non-financial benefits - travel exposure to industry events, professional development, flexible work, a more specific 3-to-5-year career path
• creating a sustainable path to success

www.darrenkbourke.com/

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.smallbusinessbanter.com.au