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How do you motivate employees to work harder and improve productivity?  A recent study may have finally provided an answer to this age old management question.  A survey of more than 134,000 workers by Kelly Services identified one fringe benefit that motivated 60% of employees to make the extra effort.  The answer: Profit Sharing. 

It seems that employees are motivated by the same thing that owners and managers are, a share of the profits.  By providing a financial stake linked to the company’s performance employees worked harder to improve productivity and thus profitability.  The results were consistent for workers surveyed  in the United States, Europe and Asia.

While profit sharing plans can be established in a number of ways, one common form is through employer contributions into the company’s 401k retirement plan.  This is where Total Team Solutions can help.  While establishing and maintaining a 401k plan can be costly for small businesses, Total Team Solutions offers free access to it multiple employer 401k plan to all payroll clients with the flexibility to customize the plan setup to meet each client’s needs.  With the just announced study that America’s retirement savings are under funded by $6.6 trillion, now is the time to setup your own 401k plan.

For more information, contact  John Morlock at Total Team Solutions at 1-800-836-9678 or email at jmorlock@ttspro.com.

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