Serving Business Owners Nationwide
It used to be that chief executives could delegate compensation-related issues to HR. Most of the work was formulaic and those in human resources were competent enough to conduct market pay studies, come up with reasonable bonus plans and make sure the company offered adequate benefit and retirement plans that didn’t cost too much. This level of delegation is no longer viable. “Reasonable” and “adequate” are no longer good…
People who have unique abilities and understand the current state of the talent market know they are in a strong negotiating position when being wooed by potential employers. As a result, many business leaders assume they must offer a high salary and other perks to secure those people. But that’s not necessarily the case. Let’s talk about what top talent is really looking for when it comes to pay….
To “set the table” for this discussion, please allow me to share some data. These statistics compare the results of companies that invest in their employees’ experience with those that do not. The study shows that businesses making that investment have an employee growth rate 1.5 times higher than those that are not. Employee pay is also 1.5 times higher. Their average revenue is 2.1 times higher. Their average…
Tom Jordan is a Certified Exit Planning Advisor (CEPA), Certified Value Builder Advisor (CVBA), and Master of Science in Financial Services (MSFS). He is the published author of How to Exit Your Business With No Regrets and the creator of the Exit Readiness Trilogy™.
