How to set up an employee incentive or share plan

Posted by James Price | JPAbusiness on 20-Jan-2021 02:00:00

We are often approached by private companies looking for advice about setting up incentive arrangements for their employees, including issuing shares to provide a form of ownership.

These companies tend to have turnovers ranging from about $5 million to well over $100 million, but they all share an interest in achieving closer alignment between their people and their company visions.

We tell these clients and prospective clients, issuing shares can be an effective means of aligning and incentivising employees, but it’s not the only option.

In this blog I’m sharing excerpts from some work we’ve done in response to some of these inquiries, which outlines a range of options when creating an employee incentive plan (EIP).

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Topics: business management, staff performance, performance review, James Price, staff share plans, Parramatta, managing employees, team building, employee incentives, incentive plan, company bonus

How do I involve staff in an ownership position in my company?

Posted by James Price | JPAbusiness on 13-Mar-2019 02:00:00

There are a number of mechanisms to provide senior and key staff with a level of interest in your business over and above an employee status.

It’s often referred to as giving employees ‘skin in the game’ and it’s about aligning your objectives as a business owner and operator with your key people, so together you can achieve great things within the business.

There are a number of ways to align objectives between the parties, through both ownership and/or incentive arrangements without formal ownership:

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Topics: staff management, business advice, staff share plans, business basics, Parramatta, Orange NSW

How to drive success with employee share ownership

Posted by James Price | JPAbusiness on 02-Jan-2019 02:00:00

Share ownership is often considered by private mid-cap and small business firms as a way to have a more meaningful relationship with key members of the team. 

Basically, employee shareholding arrangements involve applying mechanisms to enable key personnel to share in the earnings, performance and direction of your business.

Providing employees with an opportunity to share in your business is seen as a way to motivate their performance and engagement; to help them see their work as more than just a job – it’s an interesting idea.

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Topics: Employment and recruitment, Advice, Staff, Running your business, Business advisor, staff share plans

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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