How you compensate people is one of the most important strategic decisions your company will make – but few “get it right and out of sight.” Nail it and you can add hundreds of percentage points to the bottom line while driving up the energy in the organization. Make the wrong call (or piecemeal the decision together), and the results will create needless drama throughout the organization.
Do any of these challenges sound familiar?
• “I gave a star performer a raise, and now everyone else is marching into my office, demanding one, too.”
• “If anyone looked closely at our payroll, it would be hard to rationalize why we’re paying certain people what we do.”
• “I’m tired of losing our best people to the Googles of the world because we can’t match their salaries.”
Compensation is one of your largest expenses, one you can turn it into a strategic advantage in attracting, retaining, and motivating talent (or not accidentally demotivating them). In this highly practical presentation, Verne details 5 principles for designing effective compensation systems along with plenty of examples from leading small, medium, and large firms across various industries.
1) The #1 mistake business leaders make in setting up their compensation plans
2) The psychological aspects of compensation underpinning successful plans
3) How individual bonuses can backfire
4) The power of gamifying gains to drive up energy and engagement
5) Whether you want to be queen/king or rich!
Verne Harnish is founder of the world-renowned Entrepreneurs’ Organization (EO), with over 16,000 members worldwide, and chaired for fifteen years EO’s premiere CEO program held at MIT, a program in which he still teaches today.
Founder and CEO of Scaling Up, a global executive education and coaching company with over 200 partners on six continents, Verne has spent the past four decades helping companies scaleup.
He’s the author of the bestseller Mastering the Rockefeller Habits; authored The Greatest Business Decisions of All Times,” for which Jim Collins wrote the foreword; and wrote Scaling Up (Rockefeller Habits 2.0) which has been translated into 22 languages and has won eight major international book awards including the prestigious International Book Award for Best General Business book. His latest book, Scaling Up Compensation, rocketed to the #1 HR book on Amazon.
Verne also chairs the annual ScaleUp Summits and serves on several boards including vice chair of The Riordan Clinic; co-founder and chair of Geoversity; and board member of the social venture Million Dollar Women. A private investor in many scaleups, Verne enjoys piano, tennis, and magic as a card-carrying member of the International Brotherhood of Magicians.
Scaling Up: How a Few Companies Make It…and Why the Rest Don’t (Rockefeller Habits 2.0)Scaling Up Compensation: 5 Design Principles for Turning Your Largest Expense into a Strategic Advantage
The Greatest Business Decisions of All Time: How Apple, Ford, IBM, Zappos, and others made radical choices that changed the course of business
Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growth Firm
“Verne is THE guru of fast growth companies. Those who listen GROW and SUCCEED . . . so listen . . . or read!”
- Tom Peters
“Verne is more committed to helping companies grow than any other person on the planet. Really. He’s also radically practical in his approach and that is reflected throughout this terrific book.”
- Patrick Lencioni, best-selling author of The Five Dysfunctions
of a Team and The Advantage
“Scaling Up addresses the second half of the venture ball game, something often lost in all the hoopla about incubating disruptive innovation during the first half. Half-time scores don’t matter—it’s all about how you finish the game. So get yourself into Verne’s locker room for a great half-time pep talk.”
- Geoffrey Moore, Author, Crossing the Chasm
“Imagine walking into a library and finding one book that captures the ideas of all the books in the library. Scaling Up is that business book. You will not have to go any farther.”
- Jack Stack, founder and CEO of SRC Holdings; best-selling author of
The Great Game of Business and A Stake in the Outcome
This 1 hour webinar is Free of Charge, but online booking is essential.
We will share the Zoom link to join webinar a day before the event.
Meeting ID: 897 3192 5984 / Passcode: 970325