The Game with Alex Hormozi Managing Talent To Drive Higher Performance | Ep 665
Jan 29, 2024
This podcast explores an innovative approach to performance management and compensation structure, leveraging variable compensation tied to personal goals. They discuss the power of autonomy in goal setting and the impact of social pressure. This approach benefits both employees and the company by fostering motivation, job satisfaction, and reduced churn.
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Variable Compensation and Goal Setting
- Implement variable compensation tied to personal goals.
- Publicly track goals to leverage social pressure and encourage higher goal setting.
Autonomy and Social Pressure
- Let employees set their own goals, fostering autonomy and ownership.
- Social pressure encourages more ambitious goals even with variable compensation.
Variable Compensation for Non-Sales Roles
- Use variable compensation for roles not directly tied to sales.
- This allows all roles to feel like they contribute to company growth.