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Hey everyone, it's Lorenzo and welcome
to two Minute Tips on Hack Your Leadership

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podcast. Today's two minute tip is
brought to you by Lawrence frank Ketty.

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Lawrence is the CEO of One Beat
Medical. In this episode, Lawrence speaks

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about building employee incentive plans. So
check out the episode notes to find the

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link to his LinkedIn page. My
name is Lawrence frank Ketty, CEO One

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Beat Medical, and you're listening to
my two minute tip on Hacking your Leadership

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Today. I want to talk about
building an employee incentive plan that actually incentivizes

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people to do their best work.
We all know how tough it is to

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find talent in a labor market like
this, so giving people a reason to

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not just stick around but excel is
key for any business. My first tip

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about creating a good incentive plan is
actually talk to your employees about it.

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Figure out what they want, not
what you think they want. For example,

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when I took over as CEO of
One Beat, I run around the

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office and asked employees what they wanted. Since many of them were parents,

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having a child friendly workplace was at
the top of their list, so we

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made it clear that it was totally
fine for people to bring their kids to

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the office and they wouldn't get in
troubled if Junior popped up in the background

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of a zoom call. That improved
morale a lot more than pizza parties or

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a pinball machine. Not only did
it show our employees we cared about them

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as human beings, it also gave
them peace of mind, which translated directly

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into improved performance for all of us. My second tip don't be afraid to

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admit when something's not working. Even
the smartest, best intended ideas don't pan

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out. Sometimes I'll share another example
from personal experience. Since many of our

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employees love growing plants, we briefly
shot an office garden, but it turned

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out people prefer to do that at
home. Fortunately, we were able to

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better use those resources elsewhere and reinvest
in our employees, and that brings me

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in my third tip. A good
employee incentive plan is one that's updated at

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regular intervals. We do an anniable
review of ours because what our employees want

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changes over time, their families change, their lives change, and because our

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incentive plans due to we're able to
make sure our people get what they want

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so they can thrive. They can
see how much we value what they do,

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and that's motivated them to achieve some
pretty exceptional results for our business over

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the past few years. That's all
for now. If you're interested in learning

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more, you can follow me on
LinkedIn at Lawrence Franketti or visit our website

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at www dot mbat medical dot com.