Posts Tagged ‘compensation’

Top 10 Reasons an “A” Player Will Work for You

Wednesday, October 19th, 2016

Businessman hand pointing to red human sign - business abstract - HR, HRM, HRD ,CRM concept

Whether you are trying to hire for a new position, replacing a “B” or “C” player on your team, or just want to hang on to the stars you have now, here are the key reasons why top performing people will come to work for you or continue to work for you:

  1. Inspiration:  They are inspired by your vision and your leadership.
  2. Impressed by Plans:  They see you have a business plan, and they are impressed by it.  They are also impressed by how you have translated the company’s plan into an individual plan with SMART objectives, for them.
  3. Challenge:  They see the challenges, and want to be part of your team to address the exciting opportunities.
  4. Believe in Potential:  They see the desired outcome, and believe the company can succeed.
  5. Big Hit OR Security:  If you have an emerging growth or start-up company, they can appreciate the chance for a big hit (equity play), or if you are a well-established company, they appreciate the stability and security you offer.
  6. Ability to Make a Difference:  You have spelled out the impact that each individual can have, and each person understands his/her contribution to your results.
  7. Business Transformation: Great leaders like a turnaround, or changing the culture to be more productive.  Define the changes needed.
  8. Culture Feels Right:  They fit in; they understand what the environment is about, and it works for them.  This usually means open communication and no politics!
  9. Better Boss:  Be the best boss they’ll ever have.  If you are credible and consistent, it will be a motivating factor.
  10. Compensation: This is last on the list, because if all the other factors are in place, it won’t be the primary motivator.  Keep yourself market competitive, and provide incentives for good performance, and people will feel they are treated right.

New Book on Talent Management

Thursday, June 30th, 2011

Light Summer Reading!  I just ordered this brand new book called The Executive Guide to Integrated Talent Management (got it on Amazon for less than list), which includes chapters from 20+ authorities, including: David Ulrich, Marshall Goldsmith, Peter Cappelli, Noel Tichy, Edward E. Lawler, Jon Ingham, Beverly Kaye, and Sharon Jordan-Evans.  It includes sections on recruiting, compensation, performance management, succession, retention and leadership.

This looks like a comprehensive approach, with up to date ideas from today’s leading talent management gurus, so I am looking forward to digging in.

The book apparently sold out at the recent ASTD conference, so it looks like it will be popular.

I’ll let you know what I think later on.

Why Executives Make Job Changes

Friday, April 15th, 2011

We recently conducted a Linked IN poll with the question:  What would motivate you the most (to make a job change)?  As of today, we have 440 responses, and the overwhelming choice is Increased opportunity / company quality (at 39%).  The strong second choice is Increased challenges and responsibility (28%).  So these two choices comprise 67% of the responses.  Trailing in the distance are increased compensation (with only 18% of the vote), benefits (9%), and equity (stock) (6%). 

What this says to us is that the companies that make a compelling case that they have a strong value proposition as an employer, and the companies that invest time and thinking in defining clear objectives for people, will have an edge as employers.

Many companies feel that competition for top talent is mostly based on money – and they either fear being unable to compete, or they do the opposite – throw money at people to attract them.  This poll shows that money can be less important if people perceive the quality of the company and the job itself, to be superior.  In fact, over the last few years, we’ve seen top candidates, usually employed and not actively looking for something new, accept positions for little or no increase in pay, when they perceive a clearly superior environment, and they get excited about the challenges.

Check the poll today to see if the results have changed, and let us know if you have a strong opinion about this.

Job Offers – The Employer POV

Wednesday, September 2nd, 2009

There is an old lawyer’s axiom – Never ask a question you don’t already know the answer to. I think this saying also applies to employers extending job offers to management level candidates. I’ve seen too many clients extend offers before they know if the candidate will accept, only to get a turn-down.

Once the offer is extended, the power shifts to the candidate, and often, that is when negotiation begins. The negotiation should be done before the offer is extended. An employer should know whether the offer will be accepted, before they actually give the offer to the candidate. Here is what the employer should know before extending the offer:

  • What other factors will influence acceptance? These could include: benefits, bonus, growth potential, relocation issues, spouse’s job, kids in high school, elderly parents, etc. Dispose of these issues before discussing money, and the money becomes easier to discuss.
  • What are the non-monetary reasons the candidate wants to come to my company, and/or leave his/her current company?
  • What are all the components of the candidate’s current compensation package? Which are important? [Some candidates don’t care about bonuses, and want a higher base; others want the opposite]
  • What amount does the candidate want to work at my company?
  • What is the minimum level at which the candidate will walk away?
  • Would a sign-on bonus (one time payment) substitute for some salary (permanent cost)?

When an employer takes in all the factors and truly understands the candidate’s motivation, then a “test” offer can be given, accompanied by a “trial close.” “If we offered you X, would you accept?” If you get a response “I’d have to think about it”, then you have to discover all the things the candidate would be thinking about, until you get a “yes, I’d accept“. Then the next day, you can extend the offer, and know that you’ll get a yes.

Job Offers – The Employer POV

Wednesday, September 2nd, 2009

There is an old lawyer’s axiom – Never ask a question you don’t already know the answer to. I think this saying also applies to employers extending job offers to management level candidates. I’ve seen too many clients extend offers before they know if the candidate will accept, only to get a turn-down.

Once the offer is extended, the power shifts to the candidate, and often, that is when negotiation begins. The negotiation should be done before the offer is extended. An employer should know whether the offer will be accepted, before they actually give the offer to the candidate. Here is what the employer should know before extending the offer:

  • What other factors will influence acceptance? These could include: benefits, bonus, growth potential, relocation issues, spouse’s job, kids in high school, elderly parents, etc. Dispose of these issues before discussing money, and the money becomes easier to discuss.
  • What are the non-monetary reasons the candidate wants to come to my company, and/or leave his/her current company?
  • What are all the components of the candidate’s current compensation package? Which are important? [Some candidates don’t care about bonuses, and want a higher base; others want the opposite]
  • What amount does the candidate want to work at my company?
  • What is the minimum level at which the candidate will walk away?
  • Would a sign-on bonus (one time payment) substitute for some salary (permanent cost)?

When an employer takes in all the factors and truly understands the candidate’s motivation, then a “test” offer can be given, accompanied by a “trial close.” “If we offered you X, would you accept?” If you get a response “I’d have to think about it”, then you have to discover all the things the candidate would be thinking about, until you get a “yes, I’d accept“. Then the next day, you can extend the offer, and know that you’ll get a yes.