Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

Bonus Incentive Plans to Drive Action

Bonus Incentive Plans to Drive Action

FromMaking Chips Podcast for Manufacturing Leaders


Bonus Incentive Plans to Drive Action

FromMaking Chips Podcast for Manufacturing Leaders

ratings:
Length:
37 minutes
Released:
Mar 7, 2022
Format:
Podcast episode

Description

What do you expect from your employees? Do you expect them to think like an owner? Or just clock in and get their work done? Are they compensated for your expectations? In this episode of MakingChips, we’ll cover the bonus incentive plan I’ve structured for my core team. I’ll share the goals of the program, how to determine what behaviors to incentivize, what the reward(s) will be, and an easy way to manage it. Don’t miss it! Segments [2:16] ZENGERS new bonus incentive program [2:50] What’s happening in the lives of ZENGERS and Carr [5:59] Illinois and Chicago’s Vaccine and Mask Mandates to End Feb. 28th [9:03] How I structure my bonus incentive program [13:15] The 4 goals of my bonus incentive program [15:39] How to determine what behaviors to incentivize [23:53] The goal of the incentive program is to drive results [26:20] Determine the reward of your incentive program [28:17] How to manage your bonus incentive program [32:33] Are you incentivizing what someone is paid to do? Resources mentioned on this episode Get The Boring Bar Newsletter - Text CHIPS to 38470 to subscribe! Illinois and Chicago’s Vaccine and Mask Mandates to End Feb. 28th, Anticipation Builds for IMTS 2022 Connect With MakingChips www.MakingChips.com On Facebook On LinkedIn On Instagram On Twitter On YouTube
Released:
Mar 7, 2022
Format:
Podcast episode

Titles in the series (100)

MakingChips is hosted by a set of multi-generational manufacturing leaders who are on the factory floor everyday, living their lives in the world of manufacturing—they know first hand that manufacturing can be challenging. Founders Jim Carr and Jason Zenger released their first podcast in late December 2014—releasing over 300 episodes to-date, reaching more than 650,000 downloads—all while striving to deliver on their mission, to “equip and inspire the metalworking nation.” In 2019, Nick Goellner, another multi-generational manufacturing leader, joined the MakingChips hosts, bringing a third generation of manufacturing leaders to the table. Join the hosts as they work through industry challenges with leaders such as Titan Gilroy (Titans of CNC), John Saunders (NYC CNC), Mark Terryberry (Haas Automation) and more.