Since it took a few months to rid the place of the coke heads, and none of the fellow employees ratted them out, profits are at a minus, They each owe me four grand.Should I start taking it out of their wages? I mean if it were the other way around, they would want their money from me.
2006-06-09 11:46:52 · 5 answers · asked by KatGotHerTongue 3 in Business & Finance ➔ Small Business
Ok, as the manager of a small business, I'll bite on this one.
Simply put, yes. It's a "profit sharing" plan, not a "loss sharing" plan. If your employees are losing you so much money, then why are they still employed? And if you are dumb enough to keep them, why should they cover YOUR losses? They are employees, not partners. And the imaginary 4 K each they supposedly "owe" you? Take it from their pay and you'll have lawsuits out the wazoo. It's illegal. (Although by the sound of it, your employees are likely too stupid to know that.)
The idea of a profit sharing plan is that the employees can recieve up to x amount of the profits if profits are at X level or above; otherwise, there is no profit sharing bonus. If the company suffers a loss, the employees DON'T share in the loss except to the extent that they don't get raises or profit sharing bonuses. If you don't understand a concept that simple, then I wonder why you are even in business at all. Also, if you are in a business where all you can get for employees are "cokeheads", then you are either in the wrong business, or you don't know how to run this one properly. Sorry. I know this answer won't get me 10 points, but the truth hurts sometimes.
2006-06-09 12:02:15 · answer #1 · answered by answerman63 5 · 0⤊ 1⤋
Don´t worry you just need to respect the hiring terms and continue sharing profits as time goes by some emloyees will leave the work and profits will be more for less people, business will be growing and only real firends will be sharing work with you, at the end your business will be bigger and you´ll have real employees-partners near to you because "WORK TOGETHER WORKS"
2006-06-09 12:53:21 · answer #2 · answered by kike4friends 1 · 0⤊ 0⤋
Just take the money and run!
Get a deep, dark tan, hide out with the locals in Costa Rica. Surf, swim, fish, live...
2006-06-09 11:50:13 · answer #3 · answered by Hippie 6 · 0⤊ 0⤋
sell the place..we can retire to Samoa or Fiji together
2006-06-10 16:20:42 · answer #4 · answered by Spud 3 · 0⤊ 0⤋
nice try, loser.profit sharing is just that, profit. if you go into the hole, it is YOUR rsponsibility alone
2006-06-09 11:49:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋