About this episode

This episode discusses how to build a bonus program that motivates employees to stay and perform better.

Worried about losing your top-performing employees? In this episode of Masters of Home Service, host Adam Sylvester chats with Cory Byron of Vancity Electric about building a bonus program that motivates employees to stay and perform better. Cory shares the simple bonus system that improved his team's productivity, cut down costly mistakes, and boosted employee retention without breaking the bank. Show Notes: [01:09] How Cory’s quarterly bonus system works[02:50] Common mistakes a good bonus plan can eliminate[04:07] Capturing unapproved changes and material costs[06:00] Practical ways to track employee performance[07:26] What is a goal-setting review (GSR) meeting?[09:19] Coaching vs. managing your employees[10:45] How do you set realistic gross margin targets?[12:54] Should apprentices be part of your bonus plan?[13:04] Dealing with seasonality in bonus targets[14:08] How to budget bonuses so they protect your profit[14:49] How to introduce GSR meetings to your team?[17:07] What are the benefits of regular GSR meetings? [18:10] How to keep your bonus program consistent long-term[20:21] How Cory structures his yearly team bonus New to Jobber? Masters of Home Service listeners…

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