The $100 MBA Show MBA2178 Guest Teacher – Jen L’Estrange – How to Be Creative with Compensation
There’s way more to employee compensation than a number.
When you’re trying to figure out what to offer a potential new hire, the dollars and cents are only the beginning. It’s time to take a big step back, and think differently.
Today’s guest teacher, Jen L’Estrange, is an HR firm founder with a holistic approach. Instead of living in a mindset that asks “What do I want to spend on this position?,” she starts by asking what the business wants to achieve.
Then, it’s a matter of taking the company’s broader goals and the potential hire’s values — and creating a compensation plan that aligns the two.
Yes, it’s more complex than setting a budget and finding someone who’ll work for that amount. But it’s also infinitely more effective at fostering loyalty, productivity, and success for the whole organization.
Hear the details of Jen’s approach, and see what you can incorporate into your own hiring process. Learn the different ways you can actually get better results for your investment, based on the multitude of factors involved in compensation.
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