No matter what name you give it, when you pay out a bonus, you’re sharing a piece of your firm’s profits with your team. Join us as we take a deep dive into a true “profit sharing” bonus model that one company uses to equitably distribute bonuses to their team and how they created and now use a cloud-based platform to do this for them. This webinar will answer the following key questions:
- What role does firm profitability and profit variability have in determining how much to share?
- What is project profitability and why should project profitability be the primary driver in bonus calculations?
- How do you reward everyone equitably when all projects aren’t created equal?
- How do you reward those that don’t work on projects?
- Your people are smart, so how do you keep them from “gaming the system” to make their projects appear more profitable?
About the Presenter: Chandra Storrusten, CEO & Chief Value Creation Officer, Visible Value andRyan Jolley, VP, Strategy & Client Success of Jones & DeMille Engineering
Ryan Jolley, PE is an owner and VP, Strategy & Client Success of Jones & DeMille Engineering. In this role, he spearheads strategic projects to improve client and employee experience and firm performance. In 2017, this included the development of a continuous performance management solution that helped the organization thrive by rewarding individual performance and their impact on profitability. Based on the platform’s success in motivating its team members, increasing client and employee engagement and retention, and improving company profitability, the solution was spun out of the firm into a new company. Ryan is now leading a dual life serving as a co-founder and CEO of this organization, ourlinQ™.
Chandra Storrusten co-founded Visible Value in 2003 and is CEO & Chief Value Creation Officer. She fosters sustainable value creation strategies that allow organizations around the globe to capitalize on pivotal opportunities during growth, transition, and transformation. Chandra’s clients become innovative leaders, achieve their vision, and consistently out-perform their competition. She helped one of these clients, Jones & DeMille Engineering, develop their continuous performance management solution and spin it out into a new company. Now Chandra also serves as a co-founder and Chief Strategy Officer of this organization, ourlinQ™.