Engage with One-to-One Meetings

By Rob Marchalonis. Multiply your engagement by dividing your audience.  Regular one-to-one meetings can be an effective and efficient way to engage with your employees, and others. During these more personal connections, you have the opportunity for more meaningful communication, relationship building, and understanding of mutual wants, needs, and expectations. Select a meeting frequency that allows for optimal connection and communication…

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Nucor Steel Incentive Role Model

“Every employee of Nucor Steel plants across the world is on incentive pay,” declares Giff Daughtridge, vice president and general manager of Nucor Steel Berkeley, on April 4, 2018 at the Daniel Island Club. “By doing this, the company is able to maintain the highest wages in the steel industry. “From the last person we hired to our CEO, we’re…

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Charlie Munger on Incentives

“Never, ever, think about something else when you should be thinking about the power of incentives.”  Charlie Munger Both Warren Buffet and Charlie Munger extensively use and have strong feelings about incentives.  Every business leader would be wise to learn them. The following are excerpts from a very interesting article on incentives from the Farnum Street website.  https://www.fs.blog/2017/10/bias-incentives-reinforcement/ “Well, I think…

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Value of Senior Leaders?

While some may balk at the compensation of senior leaders, they may be worth every penny given the value they bring to all of their stakeholders.  In public companies, virtually all are compensated in one or more variable ways based on organizational results.  What do you think? Click here for one local example, Lancaster based Fulton Financial: https://lancasteronline.com/business/local_business/fulton-financial-ceo-sees-compensation-rise-in/article_8c73c49e-380c-11e8-b505-63ada952f31c.html  

Are CEOs Paid Too Much?

Is the CEO’s compensation a relevant indicator of employee treatment, fairness, or otherwise? Seems to me a better measure is the value the CEO brings to the organization relative to whatever they are paid. I believe employees care more about how THEY can enjoy a reasonable “share of the company’s success” based on their workgroup’s contribution and care less about…

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Year-End Bonus for April Fools?

By Rob Marchalonis. Many organizations and leaders give year-end bonuses to their employees.  The big question is why?  Are your end-of-year payouts strategic and motivational or discretionary and taken-for-granted?  How would your employees answer this question? How much connection is there, from the recipient employee’s perspective, to the bonus received relative to their contribution to the organization? If the annual bonus is relatively…

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Incentive Compensation Podcast

Listen to Rob describe why and how he started IncentShare on STP Podcast here! Thanks to Smashing the Plateau Podcast for the opportunity to share my IncentShare story: http://tendstrategicpartners.com/episode-373/

Incentive Results I’m Seeing

By Rob Marchalonis. Recently, I’ve been helping business leaders design and implement smart incentive plans.  Here’s what I’ve learned: Believe it or not, many workgroups operate at just 60% productivity, or less. Employees have much more capacity, but minimal strategy to encourage extra output. There is simply no reward to work harder or smarter, and employees wish there was. Incentive compensation…

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Start with Productivity, Not Recruiting

Why Grow Sub-Optimal Performance? by Rob Marchalonis. (Portions of this post first appeared in the Central Penn Business Journal) Business leaders, are you actively recruiting for new employees? Many employers are working to expand their teams because they believe they need more “hands and heads” to get the work done. Right now, business is good and growing for many, but…

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