Derrick Myers, CPA, PFCI, of Crockett & Myers Associates will share how incentive programs can help achieve business goals and lead to employee satisfaction during a session at the Society of American Florists’ 1-Day Profit Blast in Baltimore on Nov. 9.
Rewarding employees for sales, productivity, and more not only helps attract and retain motivated workers, but it also drives sales and profitability.
“Employees are getting more and more expensive and harder and harder to keep,” says Derrick Myers, CPA, PFCI, at Crockett & Myers Associates. “Through an understanding of the numbers we can construct incentives that make both sides win.”
Myers will share how incentivizing employees can help floral businesses compete for workers in a tight labor market, increase higher sales and profits, and attract and retain talent during the Society of American Florists’ 1-Day Profit Blast on Tuesday in Baltimore.
Incentive programs can achieve business goals and lead to greater employee satisfaction, Myers says. During his session, he will share several different programs business owners can use to incentivize employees. He will also share how those programs can be scaled to fit businesses of different sizes and needs.
Incentive programs are not only attractive to prospective employees, but they also motivate current employees.
“Retention is much, much cheaper than hiring and training,” says Myers.
It’s also important to keep sight of what is important to employees, Myers says.
He referenced a Harvard Business Review article that cites a study which found that flexibility of schedule, location, and having a clear purpose or goal in a job, was more important than salary.
“All of these important items add up to a happy employee, yet employers tend to use and abuse their employees and just throw more money at them to try to keep them happy,” Myers says. “Instead of an overhaul of compensation structures, maybe a change of culture is what’s needed in the industry.”
Meyers’ session is one of three educational sessions at the event. Award-winning floral designer Kevin Ylvisaker, AIFD, CAFA, PFCI, will give a presentation on designing efficient, profitable and sustainable holiday floral arrangements. Attendees will also hear from Melanie Spilbeler, of FreshPath Marketing, who will teach florists how to save time by streamlining promotional planning processes, automating email marketing, and using content calendars.
Want to learn more? Register for 1-Day Profit Blast.
Anne Holub is a contributing writer for the Society of American Florists.
