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.
In this meeting, Verne Harnish, founder of Entrepreneurs Organization and Scaling Up, joins us to detail 5-principles for designing effective compensation systems, along with examples from leading small, medium, and large firms across various industries. We will discuss:
- The #1 mistake business leaders make in setting up their compensation plans
- The psychological aspects of compensation underpinning successful plans
- How individual bonuses can backfire
- The power of gamifying gains to drive up energy and engagement
- Whether you want to be queen/king or rich!
Please note that you must be a head of HR or talent at a unicorn company to be eligible. If so, email Kevin Osborne at firstname.lastname@example.org to express interest in attending this roundtable on June 1.