How To Use Compensation To Maximize Recruitment and Retention With Verne Harnish, CEO of Scaling Up

eCommerce Profits Podcast

Verne Harnish is the Founder and CEO of Scaling Up, a global executive education and coaching company with over 200 partners on six continents. Verne has spent the past four decades helping companies scale. He chairs the annual ScaleUp Summits and serves on several boards.

Verne is also the Founder of the Entrepreneurs Organization (EO), a global organization spanning 61 different countries and a global peer-to-peer network of over 14,000 entrepreneurs worldwide. He is a keynote speaker and the author of multiple best-sellers, including Mastering the Rockefeller Habits and Scaling Up — which has been translated into 23 languages and won eight major international book awards.

In his most recent book, Scaling Up Compensation, Verne details the importance of mastering the art of compensation to attract, retain, and motivate talent. Although compensation is one of your largest expenses, designing an effective system can be a strategic advantage.

In this episode…

Nowadays, employees are gravitating towards non-traditional compensation plans. But what’s the benefit of exploring new incentive methods?

Verne Harnish says that there’s a strategic advantage in crafting a cutting-edge compensation plan. You’ll stand out from competitors, drive more candidates to your company, and bring your team closer together. However, there are some key techniques to find success in a new compensation method. You shouldn’t copy another companies’ plan — it should be a distinctive plan that aligns with your organization’s culture and customer. Want to learn more about the value of differentiating your compensation plan?

Listen to this episode of the eCommerce Profits Podcast, where Verne Harnish, Founder and CEO of Scaling Up, is interviewed by Co-hosts Joshua Chin, John Corcoran, Dr. Jeremy Weisz, Elise Holtzman, and Adi Klevit. Verne shares everything business owners need to know about compensation plans, including where to start, important perks to consider, and mistakes leaders make when drafting their compensation methods. You don’t want to miss it!