Compensation is about an exchange. We need to know what is needed in a position and know what our experience, skills, value and capabilities are and then correlate the two in an exchange.
What you’ll learn from this episode:
- Is it right to assume that if you do well and make a lot of money then the people who work for you should get a cut of that?
- Everyone’s compensation capability is about their own capability, not about the job.
- So many people abdicate their income to others. Know your experience, skills, value and capabilities and negotiate!
- Have a sense of what the positions on your team provide to the organization as it relates to value, skill, competence and experience.
- Salary increases shouldn’t just be carte blanche.
Featured on the Show and Other Notes:
- I’m starting a live, virtual 6-week leadership workshop called Leadership and Management Mastery beginning November 4th. We’ll talk about all the things that are difficult about managing people – accountability, performance, change, difficult employee behaviors, influencing up when you have a tough boss. Email me at firstname.lastname@example.org to talk about the course or you can go to my website here for all the details as well as the link to register. Registration closes November 1st.
- If you have questions, ideas for future podcasts or other leaders you’d like me to interview, please email me at email@example.com
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