I have owned and operated a Full service car wash for 10 years. We are very busy and the income is great. I am looking to step away and hire a GM to take on my roll. I have some great people that work for me, but none with the total package to take on running the day to day operations. I have no problem compensating a GM a great salary, pd vacation and 401K investment. I would like to offer some sort of health insurance or health insurance reimbursement. Does anyone have any advice on how to do this? I am a small company so I do not offer health benefits to all my employees. What benefits work to keep and retain a great General Manager? Thank You for your response
Hiring A General Manager
- Thread starter bw81
- Start date
robert roman
Bob Roman
How to get for-hire manager to perform and be accountable as if they owned the business?
I’ve seen many different compensation programs over the last 20 years.
The one that sticks out the most requires giving the site manager an equity position in the business that accrues over time.
For example, manager gets salary, monthly bonus based on performance plus one percent of the business per year capped at 10 percent or ten years.
Manager must buy-in to get piece of the action, and you get longevity and piece of mind.
Food for thought
I’ve seen many different compensation programs over the last 20 years.
The one that sticks out the most requires giving the site manager an equity position in the business that accrues over time.
For example, manager gets salary, monthly bonus based on performance plus one percent of the business per year capped at 10 percent or ten years.
Manager must buy-in to get piece of the action, and you get longevity and piece of mind.
Food for thought
I'd highly recommend this book as a resource:
https://www.amazon.com/Creating-Exc...qid=1517411055&sr=8-2&keywords=steve+gaudreau
https://www.amazon.com/Creating-Exc...qid=1517411055&sr=8-2&keywords=steve+gaudreau
