Cyberbacker On Enhancing Productivity & Reducing Inflation Through Profit-Sharing Program
“One way we at Cyberbacker have found to actively engage our associates amid a challenging job landscape is to provide a robust profit-sharing plan. While the concept of profit sharing is nothing new, in this new world of work, companies are now revisiting it as a tool they may have previously dismissed.”
– Contessa R., VP of Money Backers, Cyberbacker, from an article with benefitnews.com
Productivity and inflation are two critical economic indicators that determine the overall health of a nation’s economy. Productivity measures the efficiency with which resources are used to produce goods and services, while inflation is the rate at which the general level of prices for goods and services is rising. Low productivity and high inflation can negatively impact economic growth and development. Cyberbacker’s initiative to help its people manage inflation is through a profit-sharing program that provides cyberbackers with a share of the profits generated by the company.
Cyberbacker implemented and officially launched a profit-sharing program in January 2020 with a goal of $50,000. The company exceeded its goal and distributed $226,644.05 in profits. For 2021 the profit-share objective was $500,000, with profit-shared reaching $647,488.00 by the end of the year. As Cyberbacker grows in numbers in people and its revenue, they are now at a profit-share goal of 1 million dollars this 2023. There is evident success in this program, which allowed cyberbackers to earn additional passive income for their families.
Through Cyberbacker’s profit-sharing program, cyberbackers receive a portion of the company’s profits. The company’s people are incentivized, which results in them working harder and more efficiently. They are motivated to increase productivity and improve the quality of their work. This, in turn, leads to an increase in overall productivity.
“When we developed our profit-sharing plan, direct input from our Cyberbackers was sought regarding what they wanted from such a program. Giving team members a chance to grow their wealth alongside the company, much on their terms, has been a game changer,” says Contessa R.
Every cyberbacker is directly tied to the company’s profits, resulting in them taking ownership of their work and feeling a sense of responsibility for the company’s success. This leads to higher engagement, job satisfaction, and loyalty to Cyberbacker. In addition, this initiative attracts and retains top talent, allowing Cyberbacker to establish and maintain a more skilled and motivated workforce for its clients.
Inflation can occur when too much money is chasing too few goods and services, but it never stopped Cyberbacker from initiating and holistically practicing its profit-sharing program. Now, cyberbackers have more money to spend, leading to increased demand for goods and services. However, since cyberbackers are also stakeholders in the company, they are more likely to invest their money back into the company, resulting in increased production, which benefits its clients.
With Cyberbacker’s profit-sharing program, the company has become one of the many in a more stable economy. Cyberbackers receiving a share of the profits are more likely to save for the future, and invest in their communities. For years, it has increased the overall savings rate and reduced reliance on borrowing, which can contribute to inflation.
Cyberbacker’s continued success in its profit-sharing program allowed teams to grow careers, save money, and live fuller lives given the average compensation in the Philippines. Cyberbacker is a good example of how incentivizing people to work harder and more efficiently can lead to higher productivity, employee engagement, job satisfaction, and loyalty to the company. As Cyberbacker is always a step ahead in its line of business, its established profit-sharing program has developed a compelling overall economic strategy that helps its people and clients build a higher success rate.