445 - Variable Compensation Plans

How to create and use Variable Compensation Plans, which include a base wage and a variable performance-based commission or bonus, to motivate and reward employees and help you grow your small business. Get the FREE DOWNLOAD: Sample Variable Compensation Plan, on the show notes pages for this episode on our website. Variable Compensation Plans can be used for specific employees, like Sales or leadership positions, to motivate and reward exceptional individual and team performance. A Variable Compensation Plan includes a base wage component and a variable commission or bonus component as well. Use this type of compensation plan to motivate and reward performance, and to attract and retain the best talent for your small business. Henry Lopez is the host of The How of Business podcast – helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business and entrepreneurs. Find the podcast, resources and trusted service partners for small business owners and entrepreneurs at our website.