If you're talking about a qualified profit sharing plan (retirement plan), I would talk to 2 or 3 plan administration companies like Swab. Fidelity, etc. If you're talking about a bonus plan for your employees, I recommend (as a compensation consultant) to seek out some professional advice. There are a multitude of different types of bonus plans, e..g., company-wide incentive plans, project-based incentive plans, sales incentive plans, spot award plans for field workers, and even performance-based deferred compensation plans. A professional can help you sort through different types of plans and select the best plan(s) given your goals. Effective communication of the plan to your employees once it is designed is key to implementing a successful plan that motivates employees and sets realistic expectations.
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Rick Sharpnack
President
Sharp Capital Consulting, LLC
Denver, CO
(303) 355-0168
Original Message:
Sent: 06-01-2016 16:58
From: Darrin Johnson
Subject: PROFIT SHARING PROGRAM
My company is discussing the possibility of starting a profit sharing program and I am looking for examples to review to present ideas for the structure of such a program. Is anyone willing to share their program with me? If so, please reach out to me.
Thank you!
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Darrin L. Johnson | Controller
Orion Environmental, Inc
4875 Newport St. | Commerce City, CO 80022
(p) 303.993.2750 | (c) 720.545.6801 | (f) 303.955.1882 |
(e) darrin@orionenvironmental.net | (w) www.orionsvcs.com
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