Employee Profit Sharing, Referral Commission & Hourly to Retainer | #AskSwenk | Ep #137

Employee Profit Sharing, Referral Commission & Hourly to Retainer

Is employee profit sharing a good idea? In this episode of Ask Swenk, I answer your questions about if and how to compensate clients for referral business, how you can convert a longtime hourly client to monthly retainer and profit sharing for your team of employees.

{1:58} Geoff asked: "What are your thoughts on profit sharing for key employees?"

{4:50} Ryan asked: "I know you've talked about sales people and compensation before but, what about referrals? Flat fee or percentage? One time or for the life of the project/client?"

{7:28} Kirk asked: "I have a great client we do work for at an hourly rate -- this is the only client we have like this. We want to transition that client to a long term contract for a flat rate. Any suggestion on the best way to have that conversation about making the transition?"

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