In this episode, Landon Troyer dives deep into the topic of designing effective incentive plans for key employees. He emphasizes the importance of aligning these plans with the overall business goals and vision, rather than just handing out a percentage of revenue.
Landon discusses the need to avoid “paying people to quit” and instead find ways to truly integrate and incentivize employees to be invested in the company’s long-term success. He advocates for transparency around financials and giving employees a stake in the business through creative compensation structures.
The episode also covers best practices to protect the company’s cash flow when implementing incentive plans, as well as the flexibility to get very customized with these arrangements, even using them as recruiting tools.
Whether you’re a business owner looking to retain top talent or an employee seeking to understand how incentive plans work, this episode provides valuable insights you won’t want to miss.
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Sponsor Spotlight: LandJet
A big thank you to our sponsor, LandJet, for supporting the show!
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Thank you, LandJet, for making this episode possible!
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Connect with David:
Website: www.businesswiththeboyz.com
LinkedIn: www.linkedin.com/in/daviddecelle
Email: David@businesswiththeboyz.com Connect with Landon:
Website: www.businesswiththeboyz.com
LinkedIn: www.linkedin.com/in/landon-troyer-837b822b
