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Advice for profit sharing for an employee???
I am thinking about putting one of my employees from a hourly wage, to a salary with profit sharing benefits position. My goal is for him to work harder, and be available at more hours, while wanting to the website we are working succeed and of course make more money. Anyone have any advice on this? I have a few general questions to start out.
How much less will his salary be from his current wages, as a percentage?
What percentage of profit is a good figure?
How many hours should he be required to work?
What if he becomes unmotivated?
These are just a few, questions that I can think of right now. Thanks in advance.
Jay
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