Business:Management & Marketing
Harley Bjelland - Can you Motivate Your Employees with a 401k Match?
A creative idea from Harley Bjelland, a creative man. Find his full interview with the search bar.
We upload new content daily so please check back often!
Bill: How can you motivate your employees to grow your company using your 401k plan? Listen to Harley Bjelland.
Harley: Everyone's got a match in their 401k plan, well not everyone, but a lot of people have matches in their 401k plan, and they just do 50 cents on the dollar. What I've done, is I have a lot of clients that have a formula driven match. So, if we do, and I hate to use terms like ivada, but if we do ivada, which is basically a different method of profitability for the company, you're gonna get a bigger match. So, if we do 2 times ivada, you're gonna get 2 times the match, if we do 1 times ivada, you're gonna get 1 times the match, if you do half of it, we get half. And this is something that's really changed, I mean, honestly, I work with ESOPs a lot, ESOPS are Employee Stock Ownership Plans, and what it is is the employees all get to own the business. And when you communicate these things appropriately, I mean, literally, people stop stealing pens. It's a great situation.
To hear more tips from over 750 Advisors, visit exitcoachradio.com
Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here
It is Free