How to Craft a Compensation Scheme that Attracts and Motivates the Right People For Your Company With Verne Harnish, Owner Scaling Up

INspired INsider Podcast

Nov 25 2021 • 41 mins

Verne Harnish is the Founder of the world-renowned Entrepreneurs' Organization (EO), an establishment with over 16,000 members worldwide. Verne has been chairing EO's premiere CEO program held at MIT for 15 years and counting.

He's also the Founder and CEO of Scaling Up, a global executive education and coaching company with over 200 partners in six continents. Verne has spent the past four decades helping companies scale.

He is the author of multiple books, including the best-seller, Mastering the Rockefeller Habits, The Greatest Business Decisions of All Time, Scaling Up, and his latest book, Scaling Up Compensation: 5 Design Principles for Turning Your Largest Expense Into a Strategic Advantage.

In this episode…

With brands taking new routes in their compensation plans and workers wanting to get the most value for their work, your compensation scheme can become a strategic advantage when done right. Unfortunately, many business leaders wrongly set up their compensation plans, so their most considerable expense has become a downer.

How then do you craft a fair compensation plan that attracts and motivates the right people for your company? What do you do about compensating management staff fairly when their contributions are hard to measure, especially for a service business where people ‘eat what they kill?’

Listen to this episode of the Inspired Insider Podcast with Dr. Jeremy Weisz featuring the Owner of Scaling Up, Verne Harnish. They discuss why compensation is top of mind for businesses today, mistakes leaders make when setting up compensation plans — and what to do about it, the best ways to structure compensation, and more!