Have you considered, or perhaps implemented, profit share for your agency?
“We currently work on the John Lewis model in our agency, with a percentage of profit set aside and distributed equally, not by salary,” says one agency leader.
However, this doesn’t work for everyone, and some are sceptical as to whether it’s the fairest – and most sustainable – option for their team.
Should you instead be tying it to performance, and rewarding people based on output and merit?
We’ll be discussing profit sharing in this month’s CFO surgery.
- Does profit sharing work for your agency?
- Or are you finding it unsustainable in the current climate?
- Is profit sharing the fairest way to reward your people?
- Or have you considered other options, like banded roles or spot bonuses, to reward particularly high performance?
Come along to discuss all this and more – and maybe even pick some tips!