<aside> <img src="/icons/arrow-right_orange.svg" alt="/icons/arrow-right_orange.svg" width="40px" /> From the Pay Your Top People

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Problem: I need to create new growth (and this person is hungry to grow).

<aside> <img src="/icons/checkmark-line_orange.svg" alt="/icons/checkmark-line_orange.svg" width="40px" /> Solutions:

• Simple: Profit share plan (on new business lines) or Project bonus plan
• Sophisticated: Equity or Phantom Stock </aside>

Example:

Inside a small business, a high-powered team member was critical in developing new business growth.

That employee wanted to earn significantly more money but the current business didn’t support her desires.

The company wanted to keep her and had ambitious growth targets. Both of them needed one another.

How to create a win-win?

The solution: Profit Sharing Plan

New growth in the business creates new currency for an incentive compensation plan.

The employee stepped into a new role for the company that included researching, strategizing and developing new business lines.