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Phantom stock dividend plan.

A P Griffin1, J L Lewis

  • 1East Carolina University School of Medicine, Greenville, North Carolina.

Journal of Dental Practice Administration : JDPA : Official Publication of American Academy of Dental Practice Administration, Organization of Teachers of Dental Practice Administration, American Academy of Dental Group Practice
|October 1, 1990
PubMed
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The Phantom Stock Dividend Plan shares net profits with employees, mirroring stock dividends. This plan incentivizes staff contributions to practice profitability and encourages long-term employment.

Area of Science:

  • Business Administration
  • Human Resources Management
  • Corporate Finance

Background:

  • Traditional employee compensation models often prioritize seniority over performance.
  • There is a need for innovative strategies to align employee interests with organizational profitability.
  • Motivating staff through profit-sharing can enhance engagement and retention.

Purpose of the Study:

  • To introduce and explain the Phantom Stock Dividend Plan as a novel profit-sharing mechanism.
  • To outline the objectives of the plan, including rewarding innovation and fostering a sense of ownership.
  • To demonstrate how the plan can be adapted to various practice settings.

Main Methods:

  • The study describes the conceptual framework of a Phantom Stock Dividend Plan.

Related Experiment Videos

  • It elaborates on the plan's design, which distributes net profits to staff similarly to stock dividends.
  • An illustrative example of the plan's implementation is provided.

    • Main Results:

    • The plan serves to reward staff for creative input and suggestions for improvement.
    • It fosters employee involvement in driving practice profitability.
    • The plan encourages long-term commitment and bases remuneration increases on profit performance.

    Conclusions:

    • The Phantom Stock Dividend Plan offers a flexible and effective method for profit sharing with staff.
    • It aligns employee incentives with business success, promoting a performance-driven culture.
    • The plan can be customized to suit the unique needs of different organizations.