The Keys To Managing Compensation
Business author Verne Harnish asks this question of entrepreneurs trying to grow their young companies: Would you rather have a bunch of low-paid dumb people working for you or a lot fewer, better paid smart people? Finding talented people and delegating key responsibilities to them is one of the most important things an entrepreneur can do to help a small company grow. And compensation is a critical element of that strategy. Here are five rules from Harnish that top executives should follow in developing a compensation model.