Your people are your key ingredient
Anyone can copy what you do as a business, but no one can ever duplicate your people and the culture you build within your team. Developing and retaining talent is an essential part of growing and protecting your business.
As a family and owner managed business, this can be daunting. Finding the right people to trust and be part of your vision isn’t always easy and mistakes can be made along the way. So when you find those key members of staff, you’ll want to feel confident about a number of ways to incentivise them.
YOUR GREATEST ASSET IS YOUR HUMAN CAPITAL.
Understanding staff incentives
Knowing the appropriate salary level or how to encourage individuals to contribute to the overall success of the business is important for you and them. There are many options available to you to do this in a way that works for your business and also your vision. From structuring and protecting ownership, through to health benefits or bonuses, there are a range of possible ways to incentivise and support your very best people.
Do you know what incentives could be offered to employees?
Why is it so important to invest in training and development?