Retain Talent by Profit Sharing

Finding talent is challenging in a tough labour market, so retaining good workers is imperative. Have you considered profit sharing as a way to retain employees?

NZ company Mainfreight has had a bumper couple of years; the transport and logistics industry boomed during the pandemic and shows no sign of slowing down. In 2022, Mainfreight paid workers $94 million in bonuses, double what it paid out the previous year. The company also used 15 pages of its annual report to thank its 10,393 employees, printing every single name.

This might seem like an extreme move, but every employee wants to feel appreciated. Paying a bonus to every worker at the business, not only the managers, strengthens the feeling of working together as a team.

Spend more to make more?

Profit sharing and profit-based bonuses can help your business in several ways:

Your staff feel appreciated
They’re incentivised to grow profits – if the business does well, they’ll be rewarded
Hopefully, your people will stay with your business
It should build your reputation as a good employer, making it easier to attract new talent.

Win-win agreements

We can work with you to develop profit-sharing agreements or bonus structures that will be a win-win for your business and your team. Get in touch. We’d love to help you grow or develop your business’s talent.