How I Tried to Keep My A-Players (And What I Learned)

Every professional services founder knows the feeling. You’ve got a handful of consultants who are genuinely excellent. They deliver for clients. They make you look good. They’re the reason you can sleep at night.

And you’re terrified of losing them.

Two years ago, I decided to do something about it. I created what I called the Junior Partner Program. The idea was simple: take my best people, give them a real stake in the business, and turn them into partners in building something bigger.

It worked. Until it didn’t. Here’s what I learned.

The Problem I Was Trying to Solve

I run a fractional CFO firm with about 26 team members, most of them independent contractors. The business model works because talented people want flexibility. They don’t want to be employees. They want to control their schedules, pick their clients, and avoid corporate politics.

But that same independence creates a problem: How do you build loyalty with people who could walk out the door tomorrow? How do you get them invested in the firm’s success when they’re technically vendors, not partners?

The standard answer is money. Pay them more. But that only goes so far. At some point, you need something beyond compensation. You need belonging.

The Junior Partner Program

In December 2023, I launched the Junior Partner Program with six of my best consultants. The structure was straightforward.

Recognition: They got the title “Junior Partner,” business cards, and prominent placement on our website. This wasn’t just vanity. It signaled to clients that these were our A-team players.

Priority work: Junior Partners got first dibs on new client assignments. If work came in, they were at the front of the line.

Profit sharing: I set aside 1.5% of company revenues as a bonus pool, distributed based on a points system. Points came from billable hours, bringing in leads, writing blogs, participating in sales calls, and contributing to firm operations.

Referral fees: Enhanced referral compensation, 10% of first-year revenue for new clients they brought in, paid quarterly over 12 months.

The expected responsibilities were equally clear: participate in committees, bring new business opportunities to the firm, help interview potential team members, and act as brand ambassadors.

On paper, it was elegant. Align incentives, share the upside, build a team of people who think like owners.

What Worked

The first year exceeded expectations. We hit $4.6M in revenue, up from $3.2M the year before. The Junior Partners earned meaningful bonuses. More importantly, there was real energy in the group. People showed up to calls. They contributed ideas. They felt like stakeholders, not just contractors.

The recognition piece was particularly powerful. Giving someone the title of “Partner” costs nothing but means everything. It signals trust. It tells clients this person has skin in the game. And it makes the consultant feel like they’re building something, not just billing hours.

The points system also helped clarify expectations. Instead of vague requests to “help with business development,” I had a concrete menu: bring a qualified lead, get 3 points. Write a blog, get 1 point. Participate in a sales call, get 1 point. People knew exactly what was valued and how to earn.

What Didn’t Work

Year two told a different story. Revenue dropped from $4.6M to $3.3M, driven by client acquisitions and completed projects. The bonus pool shrank accordingly. And participation in the program gradually faded.

By the end of 2025, the Junior Partners’ contributions had dwindled to attending a monthly meeting. No leads. No blogs. No sales calls. Just the meeting.

I realized a few things.

Consultants are consultants for a reason. Most of my A-players chose this life because they want to do client work, not build a firm. Asking them to sell, market, and recruit is asking them to be something they opted out of. Some people genuinely want partnership. Others just want great work and fair pay.

Profit sharing only motivates when profits are growing. When revenue climbed 40% in year one, everyone was excited about their share. When revenue dropped 28% in year two, the pool felt less like an opportunity and more like a consolation prize. The incentive structure that works in growth mode doesn’t necessarily work in contraction mode.

Structure without accountability is just overhead. I had a points system, but I didn’t enforce consequences for low participation. The program became something people could passively be part of without actively contributing. That’s a design flaw, not a people problem.

The Decision to End It

In December 2025, I terminated the Junior Partner Program.

It wasn’t because the people failed. They’re still excellent consultants. They’re still my A-team. But the program structure wasn’t delivering what the business needed. With revenue down significantly, I couldn’t afford to invest in initiatives that weren’t driving growth.

As I told my team: As the “mama bird,” it’s my job to make sure all the “chicks” have something to eat. Right now, that means focusing every available resource on filling the pipeline and rebuilding revenue. Not running a partner program that had become largely ceremonial.

What I’d Do Differently

If I were starting this program again, I’d make several changes.

Smaller group, higher bar. Six partners was probably too many. I’d start with two or three people who genuinely want to build, not just participate. Quality over quantity.

Real accountability. Minimum point thresholds to stay in the program. If you’re not contributing, you’re out. That sounds harsh, but it protects the people who are actually engaged.

Equity or nothing. If I want people to think like owners, I might need to make them actual owners. Profit sharing is nice, but it doesn’t create the long-term alignment that equity does. This is harder with a contractor model, but it’s worth exploring for the right people.

Separate recognition from incentives. The title and visibility were valuable on their own. I could maintain that without the bonus pool complexity. Sometimes people just want to feel valued.

The Broader Lesson

Every professional services firm struggles with this. You can’t scale if your best people leave. You can’t keep them without giving them something beyond hourly rates. But most consultants chose consulting because they don’t want the obligations that come with partnership.

The solution isn’t one-size-fits-all. Some of your A-players genuinely want to build alongside you. Design a program for them. Others just want great work, fair pay, and flexibility. Let them have that without pretending they’re something they’re not.

The mistake I made was assuming everyone in my top tier wanted the same thing. They didn’t. And forcing a partnership structure on people who wanted a contractor relationship just created awkwardness for everyone.

Your Move

If you’re thinking about creating an incentive program for your best people, start by asking them what they actually want. Not what you think they should want. Not what would be good for the firm. What do they want?

Some will say money. Fine. Pay them more.

Some will say recognition. Fine. Give them a title and visibility.

Some will say ownership. Fine. Figure out how to make them partners.

And some will say nothing. They just want to do good work and go home. That’s okay too.

The goal isn’t to turn every consultant into a partner. The goal is to keep your best people engaged in whatever way works for them. Sometimes that’s a formal program. Sometimes it’s just a phone call to say thanks.

I don’t regret the Junior Partner Program. I learned a lot. The relationships are still strong. And I know more about what motivates my team than I did two years ago.

That’s worth something. Even if the program itself is over.