Employee engagement and the customer experience can reach new heights when employees are offered a financial opportunity to share in the success of the organisation. Such schemes can also boost productivity and morale and, ultimately, a company’s bottom line.
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There are also other attractive benefits, such as employees feeling they, not just senior managers and executives, are sharing in financial success, resulting in a greater sense of identification with and loyalty to the organisation and a tendency to think and act like owners rather than merely employees of an organisation to which they are not emotionally attached.
However, designing a profit-sharing plan is not something to rush into without careful thought and planning and it is critical that the organisation gets it right first time. Total Reward Group has the expertise to craft profit-sharing plans which support your organisation’s overall objectives whilst engaging employees and differentiating your reward offering.