Equal risk, Equal rewards. Andrew asks the employees that will get equity in the business to have skin in the game. That can take the form of them buying some stock options with a check or the company offering them a loan personally. -Andrew Wilkinson, MFM podcast min. 41 Continue reading For employees to get equity, they must feel like they can lose something
This sounds crazy, but it works. I allow my employees, for example, the use of my Rolls-Royces or Bentleys for their weddings. I permit them to stay at my homes around the world if they have performed well. Such perks are legal because I paid for them myself from after-tax dollars or pounds. -How to get rich, p.212 Continue reading Offer legal perks that you have paid for yourself to employees.
I once did so, like a fool, and twelve months later my company was forced to pay ludicrously high bonuses for a very small improvement in profit to six senior managers. -How to get rich, p.210 Continue reading Never delegate bonus arrangements
If you want your managers to concentrate on improving margin and profitability while growing the business, they have to feel the light is worth the candle. Pay them well for performing well. (They will have many excuses to make to their lovers or spouses for working late to achieve the goals you set them.) -How to get rich, p.210 Continue reading Make annual bonuses generous
They want security, respect, or the chance to learn or the opportunity to shine. -How to get rich, p.199 Continue reading For whatever reason, a surprising number of first-class employees are not overly motivated by money.
Roadmap to Billions 