Guest: Jen L'Estrange, Founder & CEO of Red Clover, which offers large-scale, strategic and operational Human Resources support that’s accessible to small businesses.
Overview: When it comes to comp, money is rarely enough -- especially for top talent. The best workers need to feel like their efforts are not just rewarded but recognized as integral contributions towards Making BIG Happen. Your compensation package has to tie all of these motivations together in a way that's clear, equitable, and integral to the company's top goals.
On today's show, Jen L'Estrange shares five key insights on upgrading your compensation package:
1. Increase focus on variable compensation.
2. Communicate clearly about how compensation is structured.
3. Incentivize both short-term performance and long-term strategic objectives.
4. Provide non-monetary motivation for team members.
5. Benchmark salaries against market data rather than relying solely on cost of living adjustments.
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