Asking your employer for money when they use your idea that'll save millions
Let me preface by saying I work in CRE AM for a huge company that does over $40 billion in revenue. Now, I think that I have come up with an idea that in its maturity, should raise the average occupancy on our debt properties by ~1% which would generate an additional ~$50 million in revenues, lower risk and have other consequential cost savings for the firm. I know on a comparative basis its not huge, but I think an extra $50 mil a year is $50 million.
Also, my office has a town hall meeting every quarter where employees get to propose ideas to senior staff. Hypothetically, if my company went with my idea, how would I go about asking them for a bonus? I realize I'd probably have no legal ground to stand on, but I would still feel obliged to ask if I get a cash reward for adding that kind of value as only an analyst. What do you all think? I wouldn't expect like a million bucks or anything but maybe between $10,000 - $100,000?
pitch it to the execs. I would be willing to bet that this isn't the last good idea you'll ever have...the right people will take notice to your ideas in the long run and you'll find success if you keep thinking outside of the box.
Why settle? Is there anything proprietary about your idea?
In my experience, unless you're an executive, a particularly senior guy, or you are an owner, they will pat you on the back, tell you it's a nice idea and, if you're lucky, they'll explain to you why that probably won't work for them (if you're not lucky, they'll just ignore you altogether). People often become entrenched in their ways and are not likely to listen to a regular scrub employee. I've given up trying to give ideas to my employer (and am halfway out the door with my own business on the side where I can actually implement my ideas).
Also, in the highly unlikely event they implement your idea, you aren't really morally entitled to a bonus. Proposing process improvements is part of your job. Now, when it comes to promotion time or the time to ask for a raise then it's a notch on your belt. It's also a solid thing to put on your resume.
Maybe worry about actually executing your idea then you can figure out how you're gonna get paid for it.
I think it all depends on where you are in your career and where you want to be. I feel like most VP level guys are always one foot out the door, depending on how close they are to securing capital to do their own deals. It's just the nature of the business, real estate is fundamentally an entrepreneurial industry. Most folks I know are doing deals on the side until their side business takes up more time than their day job will allow for.
I suppose you could quit and then act as a 3rd party consultant who takes a % of costs saved. You'd have to be damn sure it would work. Find another company in that space and repeat.
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