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The Right Compensation Model

Business expert Verne Harnish offers tips for finding and retaining talent by developing a successful compensation plan.

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Mini-Games Drive Short-Term Goals

"Bonus" plans often become part of the expected compensation system and stop becoming true incentives for employees, according to Harnish. Entitlements do not drive a company's performance. Instead, the focus should be on offering bonuses and "mini-games" (short-term incentives like prizes or company-paid trips) designed to meet specific goals.

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