Incentivizing total business success with Profit Sharing Plans
In a profit-sharing plan, an employee receives a percentage of a company’s profits, either in cash or company stock, based on the company’s quarterly or annual earnings and the amount is determined by the employer. Quarterly profit-sharing plans can be slightly more cumbersome, but they incentivize high-performers in risky businesses.
The goal is to reward employees for their contribution to the business’ success and align their financial well-being with that of the company. Both pensions and profit-sharing plans achieve this goal. This is a great way for owners to share business profits with the rest of the company and compensate them in a tax-friendly way.
Profit Sharing Plans to increase motivation and wealth
For financially stable organizations, profit-sharing plans can serve as a powerful incentive for employees and owners alike. It’s a plan that serves to reward all employees as well as owners and managers, which is a great motivator and concrete way to thank everyone for contributing to the business’s overall success.
Call or schedule an appointment with the pros at Intelliplan. We will help you motivate your employees and maximize your financial benefits.
