Comp and Coffee
Ep 45 - The Value of Compensation
Jan 28, 2020
Exploring the value of compensation strategy in driving profit, managing risk, and supporting growth. Discussing how compensation professionals can align with business goals to show the value of compensation to executives.
25:23
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Quick takeaways
- Compensation is central to profit, risk, and growth strategies in businesses.
- Competitive compensation is crucial for employee retention and aligning with business goals.
Deep dives
The Strategic Value of Compensation
One of the main points discussed in the podcast is the strategic significance of compensation in business. It emphasizes the importance of aligning compensation strategy with overall business objectives, highlighting that compensation plays a critical role in profit, risk management, and growth planning. The podcast stresses the essential connection between compensation strategy and broader business strategies, underscoring the need for organizations to prioritize understanding the impact of salary expenses on profitability, the risk associated with talent retention, and the cost implications of growth initiatives.
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