How to Build a Bonus Program – Part 1: Published on Jan 8, 2014
How do you design a bonus program that motivates employees and returns value to the company? In Part 1 of a series of videos all about Bonus programs, Gary explains the basics and begins the process.
How to Build a Bonus Program – Part 2: Published on Jan 13, 2014
Why do we pay employees?? OK, I know that sounds obvious but most viewers get this wrong. And why would you want to offer a continuous bonus program? Doesn’t that just mean you are paying out more? Gary discusses those issues and more as he lays the groundwork for How to Build a Bonus Program that Works EVERYTIME.
How to Start to Build a Bonus Program: Published on Jan 16, 2014
How do I begin? I hear that question all the time. In this video, I answer that question and explain where and how to start building a bonus program. It’s always easier when you have a blueprint.
Who needs a Bonus Program?: Published on Jan 21, 2014
Should your company add a bonus program to the compensation structure? What types of companies do bonuses work well for. Gary describes the 6 states of companies and tells which ones are good candidates. Which one are you?
The 8 Essential Elements of a Quality Bonus Progam :Published on Jan 23, 2014
How do you design a bonus program so it works every time? You follow Gary’s blueprint. This is the summary video of the 8 Essential Elements or a Quality Bonus Program. Future videos will dissect each one.
Element #1 GRADIATE IT!:Published on Jan 28, 2014
The first element in the process of designing an effective Bonus Program is to gradiate or tier it. Creating multiple levels of goals is a key to success. Gary explains why and how.
Element #2 MAKE IT EQUITABLE!:Published on Jan 30, 2014
Gary discusses the second element of a quality bonus program. Being Equitable. Failure to make bonus programs for similar employee groups somewhat equally attractive will cause a series of problems. Make sure you avoid that.
Element #3 BE TIMELY!:Published on February 5, 2014
One of the absolutely most critical elements of a productive bonus program is Timeliness. How often should you pay out bonuses to make sure they work? Gary answers that question in this video.
Element #4 KEEP IT SIMPLE!:Published on February 11, 2014
Gary discusses the 4th Element of a productive bonus program: Keeping it Simple. Simple to explain, simple to understand and simple to compute.
Element #5 MAKE IT MEANINGFUL!:Published on February 18, 2014
How much does a bonus have to be to motivate people? This is one of the hardest questions to answer but Gary has identified the amount after 25 years of trial and error. Find out here!
Element #6 BE OBJECTIVE!:Published on February 27, 2014
Gary discusses the 6th Element of an effective Bonus Program. Learn why it is critical to be objective – not subjective.
Element #7 GIVE REINFORCEMENT!:Published on March 6, 2014
How do your people know if they are progressing toward their goals or not? They only know if you give them feedback and reinforcement. Gary explains the value of frequent reinforcement to any bonus plan.
Element #8 MAKE IT EASY!:Published on March 12, 2014
Gary discusses the last step of the 8 Essential Elements of a productive bonus program…making it easy to participate.
HOW MUCH DO I PAY? :Published on March 19, 2014
Gary discusses how to figure out how much to pay for a bonus that is not related to the bottom line. What formula do you follow?
THE LAST OBSTACLE TO USING BONUS PLANS :Published on March 27, 2014
The last Bonus Program video. This one talks about the one last obstacle to starting your company on a pay-for-performance system.