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Sharing the Wealth Clearwater FL

Profit-sharing plans in Clearwater are an incentive-based compensation program that award employees a percentage of the company's profits.

Quality Plus Technologies
(727) 393-6048
8430 Egret Lane
Seminole, FL
Tampabay DSL Inc
(813) 886-0044
9423 Corporate Lake Drive
Tampa, FL
Tampabay DSL Inc
(727) 849-3120
5637 Marine Parkway
New Port Richey, FL
Hackney Development Corp
(727) 531-6846
1447 S Hercules Ave
Clearwater, FL
Maximum Exposure Inc.
727-446-6575
601 Cleveland Street, Suite 390
Clearwater, FL
Tampabay DSL
(813) 846-6465
5151 West Rio Vista Avenue
Tampa, FL
Quality Plus Technologies Inc
(727) 393-6048
Saint Petersburg, FL
Moore Stephens Lovelace, P.A.
(727) 531-4477
311 Park Place Blvd. Suite 100
Clearwater, FL
Professional Viewpoint
(727) 443-6907
PO Box 1942
Clearwater, FL
The Consus Group, LLC
(727) 458-4751
2040 Lakeview Dr Unit 205
Clearwater, FL
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Sharing the Wealth

Source: REPLACEMENT CONTRACTOR Magazine
Publication date: May 1, 2006

By Jim Cory

Four years ago, Bill Frazier, owner of Austin Gutterman, introduced a profit-sharing program at his Texas gutter and gutter protection company. Here's how it works:

The company awards quarterly bonuses to all employees who have worked there for at least a year. But the bonuses are only distributed if Austin Gutterman generates a minimum of 5.1% net profit. If it does, 35% of that profit is divided among non-managerial employees, with 40% retained and the remainder divided among five managers. In the first year of profit sharing, Frazier gave away $100,000 in bonuses and retained 4.8% net profit. What did he get for that? Lower turnover, higher gross and net profit per employee, higher closing rates on sales (as communication between sales and production crews improved), and reduced overhead as employees became accustomed to looking for ways to save on costs. Today Frazier's business has almost doubled in size.

Providing an Incentive

Profit-sharing plans are an incentive-based compensation program that award employees a percentage of the company's profits. In Frazier's case, he introduced the program as part of an “open book” effort to educate employees about how the business runs and, in particular, about its expenses.

Click here to read full article from Replacement Contractor

10 PUBLIC OFFICERS, EMPLOYEES, AND RECORDS View More
from: FLStateLaws
Title:10 PUBLIC OFFICERS, EMPLOYEES, AND RECORDS Chapter: STATE EMPLOYMENT Section:110.1315: Alternative benefits; other-personal-services employees. 110.1315?Alternative benefits; other-personal-services employees.—Upon review and recommendation ...
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