Where There’s a Will There’s a Way
Business
Summary:
On this episode of Where There’s a Will, There’s a Way, host Will Crist talked with Alex Freytag, an expert EOS Implementor. Alex is also the author of Profit Works, a book that unravels the complexity of incentive plans in order to increase employee productivity, cultivate an engaged workforce, and maximize company potential. Throughout the episode, Will and Alex discuss his EOS journey and the importance of properly compensating employees.
Shownotes:
(1:13) Introduction to Alex
(1:43) Alex’s EOS Journey
(7:40) The Benefit of Employee Compensation
(10:48) How Pressure Impacts Performance
(13:19) Human Reactions to Being Rewarded
(18:19) We First vs. Me First
(21:18) Identifying Effective Incentives
(25:48) Incentive Plans with Company-wide Input
(30:53) About Profit Works
(32:49) Utilizing People as Assets
(34:09) Purpose of Profit Works
(38:27) Quality Relationships in the Workplace
(42:52) Closing Thoughts
Links:
Will Crist
EOS
Alex Freytag
Quotes:
“Well and that really is what we as EOS implementers aim at isn’t it, it’s to really help businesses thrive.” - Will Crist, (5:54)
“So if we talk about employee retention and you talk about attraction and best places to work, the companies that are able to balance those rewards, their workforce is the one that tends to be the most successful from a profitability standpoint and from a growth standpoint.” - Alex Freytag, (8:32)
“The amount of pressure in an organization is directly correlated to performance, and so companies that don’t apply any pressure in the organization, no standards of performance, no expectation, no core values, no measurables, no scorecards, no 10-year target, and so forth, tend to have lower levels of performance than the companies that turn that dial up on those expectations…” - Alex Freytag, (11:47)
“...pick a minimum threshold of profit that the company has to reach before the incentive plan kicks in and then arm your workforce with tools and training and resources to actively find the money to incremental profit dollars over that threshold.” - Alex Freytag, (24:26)
Contact Will Crist
The EOS Life
Challenges That Law Firms Can Overcome with EOS
Helping Every Employee Live the EOS Life with Eric Lindsley of Knight Watch
EOS Turns Clients into Life-Long Friends
Entrepreneur Roundtable
Working Smarter, Not Harder with the EOS Life
How EOS Companies Deal With Supply Chain Logistics
Helping People Reach Their Full Potential through EOS
Building Community with EOS
Making Music Easier for Creators
Taking the Burden off the Founder with EOS
How EOS Has Changed the Law Firm
Integrators: An Integral Part of YOUR Leadership Team
Be a Workplace Where People Flourish
Fixing the Root Cause of Business Problems
Entrepreneurship IS All Fun & Games!
Leading Your Team to Success Instead of Burnout
Negotiations Are like Relationships
Run Your Business Without Ruining Your Life
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
HCI Leadership Revolution
The Ramsey Show
Planet Money