In this episode, you'll discover:
- The Right Bonus System will ENERGIZE Your Team
- Why you should make it YOUR GOAL to bonus your team.
- How to set your Bonus Budget
- Discover WHEN to bonus, HOW to bonus and WHO to bonus.
- Do You Have a PROFITABLE Business Model?
Episode Highlights
01:58 - You are developing leaders, evaluating your team and valuing them in a way where you're able to compensate them well for the work that's being done.
07:39 - The first concept for the bonus system is to manage Expectations and Agreements.
14:39 - A look at establishing your base case scenario in order to determine where you can make changes for growth.
19:27 - If you're setting your goals at base case scenario, anything above base case would be considered a super threshold and that's when our bonus system starts to kick in.
25:46 - Setting up a bonus budget and how to ensure you have the money set aside instead of dipping into savings.
28:39 - When you combine the bonus system and quarters with the scorecards, where you are meeting in and checking in on a weekly and monthly basis it decreases the chances of someone gamifying the system.
29:39 - An example of how to calculate the amount of bonus everyone receives.
Resources Mentioned
To download your copy of the Remarkable Bonus Systems Worksheet, please click here: https://theremarkablepractice.com/podcast-ep195-bonusworksheet
To learn more about the REM CEO Program, please visit: www.theremarkablepractice.com/rem-ceo
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Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business