Bridging the Employer - Employee GapBy: Chris Hooper
Michael Johnson from Ultimate Achiever shared thisgreat quote by Robert Kiyosaki with me:
“Employees will work just hard enough to not be fired. Employers will pay just enough to stop an employee leaving.”
This really resonated with me, because it’s the main reason Cirillo Hooper & Company has invested so much time and money into researching human resource management. Being a disruptive thinker, I would ask the question:
“What if it didn’t have to be that way? How do you get employees working harder and employers paying more?”
The solution is simple, performance based incentives. A base salary is just that, a basic salary paid for physically rocking up to work. If you expect any more from your employees for their base salary, you’re kidding yourself. If you want to get your people excited, give them targets and bonuses for achieving those targets. This is a simple way to get your staffs’ objectives aligned with your business’ objectives.
Our goal is to pay more than half our base salaries in performance bonuses. We'll be happy because the firm will be performing and people will be happy because they’re making more money; not that it’s all about the money, but that’s a blog for another day...