Profit First Show- Bonus or Raise (Ep- 02)

In this episode of The Profit First Show Shannon and GG discuss how to use your financial compensation structure for your employees in a way that makes them emotionally stable, excited and motivated.

00:31 We are looking for a better name and we need your help

01:37 GG’s theory to save the world from fossil fuel and obesity

02:41 Topic: Do you give your employees Bonuses or Raises?

03:15 Bonuses are better than raises

04:23 Cost of living Increases

06:30 A raise is a medal for mediocrity

08:43 Ways to do Bonus compensation

09:52 Bonuses doesn’t have to be monetary

11:51 Learn your employees love language

14:51 How to structure bonus compensation in a gym

21:31 Raise your rates annually

23:41 Wrap Up

 

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