In parts one and two of this series, we’ve already discussed how you need to make sure your comp plans include freedom & autonomy, and have every dollar linked to purpose. That’s a real world impact on someone in your community.
This final tip will help you attract and retain the best performing employees, in addition to keeping them happy and motivated at work. The secret: flexibility.
Add some flexibility in your pay. Statistics are telling is over and over again, graduates of highly specialized degrees are willing to take large (up to 25%) pay cuts, if they’re given flexibility.
Flexibility in your comp plan can take all kinds of forms. It could be as simple as remote work; providing your team the resources to work from the office, or from home, or on the road in a coffee shop.
While remote work might not be best for every business, you can take a look at your daily schedule for every employee. How regimented are your lunch hours, or breaks? Can your...
If you haven’t seen the previous installment of the series, we introduced the concept of adding freedom and autonomy into your compensation plan. Across the board, for your entire organization, you should be eliminating the glass ceiling on income for your workers. Careful attention should be applied, as with all payroll, you should base your compensation on your own unique P&L.
In this second part of the series, we’re discussing how your workers should feel purpose in their paycheck.
The dollars your workers receive, they should know that it made a serious and positive impact on someone’s life. For a transactional performance based earnings commission, it’s easy to relate an individuals payment increase to an action they followed through with or completed.
With my own company, that can typically for every home loan or insurance policy, you’ll get x amount of dollars. While that definitely provides some freedom and autonomy in my team’s...
Above all, I believe that the money and pay structure you provide your employees needs to encourage freedom and autonomy. No one likes to have a glass ceiling on their income. Not just for employees, but you as a leader I’ll bet you take some satisfaction in knowing that if you do x or y then you’ll make more income. Pay that’s based on performance or the ability to earn commission is important; not necessarily in finding the perfect mathematical formula or ratio, but in the affect that freedom has on your team members. It allows your employees to feel they can act with agency over their future. The truth is, getting rid of income ceilings for your team can be hard. This is definitely not something you can easily copy from another company... even if its from within your industry or sector. As we’ve covered in previous topics, your payroll needs to be based on your company’s own financials, your P&L, and your balance sheet. This Week’s Take...
How to Create a High Performing Company Culture (Part 2)
As a manager and a leader, we’ve already talked about how elevating your employees as a management style is key towards building a high performance company culture.
Turning inward on yourself, the next thing you can do to ensure success is to stay curious.
Curious managers and leaders help create great company culture. What does this look like in reality? Make sure it feels right; you don’t want to be curious in the way that results in you sticking your nose into everybody’s business. Your team needs to have freedom— which we’ve talked about is probably the single most important thing your company culture can have. Curiosity that leads to micromanagement will negatively affect your performance.
This Week’s Take Away
By exhibiting your curiosity in an empathetic way, you’ll show your team that you genuinely care. Ask them how they’re doing. Not just at a work level, but on a...
High performing company cultures or high performing businesses has become a bit of a buzz word. Everyone is on the lookout for new ways to maximize the potential of their organization, and possibly shift their management styles in that direction
I believe it all starts with understanding your own natural management style, and choosing the style to move toward.
The performance you’re getting out of your team should be the desired performance. When that’s no longer true, you can adjust your management style to bring those results closer to your goal.
In most cases, you can break down any management style into five categories; • Manage
• Support • Elevate
These five styles were picked by an HR company that wrote an article around them, asking other companies how their own methods fit in, and what performance results were achieved.
Of all the management styles, one fostered a company culture and employee performance significantly...
How to Deal with Difficult Conversations in the Workplace
We’ve all had that apprehensive feeling when you need to have a difficult conversation with an employee or team member. I feel the best way to approach the issue is with humility.
We’re all imperfect human beings, no one will ever meet absolutely every expectation and action without error. Think of that as you approach the topic. As a manager, business owner, and leader, look yourself in the mirror and ask yourself where you might have affected the situation in a different way.
Is there a resource you could have given them, a training program you could have started, or some other tools they might have needed from me that lead them toward the path that resulted in the poor outcome. What could you have done different?
This Week’s Take Away
As you walk into your meeting, watch your tone, and be mindful to approach with humility. Looking back at the situation, which has resulted in a less than satisfactory...
Time off, our workday schedules, and unlimited vacation time are the subject of
my most frequently asked questions. As business owners and leaders, should
unlimited time off be something to consider?
Bouncing off our previous topic of being authentic to yourself in terms of
management ideologies, it’s important to understand that unlimited vacation is
something that works for me, and might not work for you.
In actuality, it’s not even about the unlimited time off itself— but a way for me to
extend massive freedoms to my workers. Knowing myself, workplace freedom
is an enormous factor in how I like to operate.
I like doing things my way, and having the ability to control things how I see fit.
I’ve walked away from a few promising business opportunities, just because I
felt the lack of freedom that would result wouldn’t make the outcome
Because freedom is such a large part of me, offering unlimited vacation time to
my employees is a natural and authentic...
How to Become a Better Leader (Part 2)
Earlier we talked about how one of the biggest mistakes you can make as a
leader is assuming your team responds to challenges the same way you do. We
all view the world differently, and understanding that difference will help you
make more effective decisions, and support your team to the best of your
In addition to knowing yourself, you’ll still need to act on it well.
All of your preparation and self analysis will go to waste, if your actions aren’t
based on those insights. An example of acting poorly would be the companies
that try to copy what other firms do, exactly, and expect identical results.
You’re not Google or Facebook. You won’t be able to copy the moves and
actions of those organizations, and think you’ll create that management style or
company culture in your own office.
Rather, you need to develop strategies and act in a way that’s transparent and
authentic to you.
Beanbags everywhere and kombucha...
Are you trying to be a better leader?
Ian Cron is the author of the popular Enneagram book many business leaders
are turning to. Cron says that every business leader and employee wants to be
on a team of people that fight for each other, and die for their customers.
As a leader, you need to ask yourself how you can move the people that report
to you, closer to that paradigm from the Cron quote. How do you do that?
Understand your employees and know yourself.
One of the biggest mistakes you can make is thinking your workers see the
word in the same way you do. It's just not true.
You have certain character trains, history, and past that have changed the way
you address, analyze, and attack problems. While your employees might have
similar traits to you, no one will behave the same as you do to a given
This Weeks Take Away
Write a list of every member of your team that directly reports to you. Then
describe how they approach a challenge. How to they take new information?
Are they soft...
I Am With You.
These are the words your team needs to feel, if not hear from you. Showing you
care and support your employees is one of the most powerful things that can
foster a positive workplace. It’s also something you actually have control over.
As a manager or leader, you shouldn’t be lording over people barking
commands... but rather ask how your workers can be most supported. Ask
about their workload, and how it can be made better.
At the very least your workers should know that you support them. Just like
we’ve mentioned in the two previous segments, making it known that you care
about your employees will give you the edge in retention.
Keep in mind that while creative, none of these three methods costs you more
money. It’s not incentivized. Your workers have a lot of options out there today,
so you need to focus on why they should stay with you.
This Weeks Take Away
Go up to your team members, and ask them how you can help. At least once
this week, find...