Profit/Equity Shares for Employees
I'm looking for real world experience and thoughts about hiring employees and giving them either a profit sharing or equity sharing program after a probationary period (say 1 year).
The one year period will seperate the dedicated workers from the slackers. It will give them incentive to work towards a goal and to keep in mind that they are working for "themselves".
My specific questions are as follows:
1. Having such a program have you seen it retain important employees, such as the actual head and assistant brewers?
(I see these folks are the race car drivers on the brewery team and making sure they don't feel overworked/underpaid is very important.)
2. If you have implemented such a plan AFTER opening your venture, did you see a marked change in attitude and production of employees after offering it to them?
3. Please elaborate on the structure of your program if you will. I would appreciate examples of how others have developed and implemented these plans. I'm looking for actual approximate payouts on profits/shares, time frames, buy back when employee leaves the firm et cetera.
Thank you all for your advice in advance and I hope my posts here are informative, educational and practical in the real brewing world.
"The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it." - Theodore Roosevelt