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    Scaling Up Compensation: 5 Design Principles for Turning Your Largest Expense into a Strategic Advantage
    Scaling Up Compensation: 5 Design Principles for Turning Your Largest Expense into a Strategic Advantage
    Scaling Up Compensation: 5 Design Principles for Turning Your Largest Expense into a Strategic Advantage
    Ebook175 pages2 hours

    Scaling Up Compensation: 5 Design Principles for Turning Your Largest Expense into a Strategic Advantage

    By Verne Harnish and Sebastian Ross

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    About this ebook

    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 book, the authors share 5 principles for designing effective compensation systems along with plenty of examples from leading small, medium, and large firms across various industries. You'll learn: 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!

    LanguageEnglish
    PublisherForbes Books
    Release dateApr 12, 2022
    ISBN9780986019586
    Author

    Verne Harnish

    VERNE HARNISH is founder of the world-renowned Entrepreneurs’ Organization (EO), with over 18,000 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 260 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 26 languages and has won eight major international book awards including the prestigious International Book Award for Best General Business book. His latest books, Scaling Up Compensation and 12 Habits of Valuable Employees, rocketed to the #1 HR books on Amazon upon release. Verne 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.

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