How can you really engage your employees and ensure that they share your motivation as business owner? We believe that employee rewards or bonus should be objective, transparent and linked to the achievement of the business owners’ goals. Our virtual finance directors use a decision tree methodology to tailor our tried and tested profit share or bonus schemes to fit your needs as business owner.
Growth businesses often need to move beyond only relying on the flair and ability of the entrepreneur, transferring the management of the business down to competent managers. How well this transition is managed will have a direct impact on the businesses ability to grow through to the next stage.
vfdnet often works with Business Owners to implement:
- Motivational management incentive schemes linking senior managers bonuses to achievement of profit targets
- Share Option Schemes – either Enterprise Management Incentive plans (EMI), revenue approved option schemes (both tax efficient) and revenue unapproved share option plans
Team building benefits are very significant:
- A motivated team will be more likely to achieve goals
- Better senior manager retention
- Business owner can spend less time in the business
vfdnet part time Finance Directors have extensive experience of working with entrepreneurs to develop their team, having managed teams through rapid growth phases through implementing all types of incentive and share option schemes. Ask us about our services.
Case Study 1
The client had a developing management team which the owner wanted to motivate towards hitting his goals. A Management Incentive Scheme was implemented, linking senior manager’s bonuses to the achievement of pre-defined budgeted profit. Full scheme rules were applied, and progress was monitored every month. The client hit budgeted profit, paid out bonuses and successfully grew its turnover over 4 years from £12m to £36m.
Case Study 2
The Business Owner wanted to step back from the business. We helped design and implement an EMI Share Option Scheme which helped align the key Manager’s objectives with the Owners goals. This together with full delegation of the day to day management, released much time for the Business Owner and also provided reward for the loyalty of key managers.
“Our VFD was instrumental in ensuring a successful implementation of our profit share scheme. From the initial design, through to implementation, our VFD adapted his tried and tested scheme into the right…” Read More >>
Top 10 Tips for Great Profit Share Schemes
There is nothing like giving your employees a share of profits to attract their attention and motivate them to helping achieve your goals. Well designed and… Read More >>
How to retain Key Managers?
The loss of a key manager is always a big event in SME businesses. At the very least it will lead to short term pressure, considerable senior… Read More >>
