Scaling Up Compensation

5 Design Principles for Turning Your Largest Expense into a Strategic Advantage

By: Verne Harnish

Narrated by: Verne Harnish

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 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:

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!

©2022 ForbesBooks (P)2023 ForbesBooks

Good read/listen but something’s were missing

The version of my book didn’t completely match the audible version which was a bit disappointing.

clear and concise

plenty of examples to support the concepts and the story flows well throughout the book

clear and concise

I listened to it multiple times, and learned new things every time. well worth it

Great ideas

Great ideas - some I would not have considered laid out I an easy to understand format.

Diversity of compensation strategies

As a business trying to be globally known its difficult to understand how much to pay versus the value you need provided