Series Part 2: Dangling The Carrot – Performance Based Compensation

Now You Are Almost Ready! If your test period to define the company as “being under control” was successful the following would’ve happened: The feedback from the employees was positive. The measuring systems worked and you are able to take what you learned and “fine tune” the business plan, performance standards, and pay for performance...
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Series Part 1: Dangling The Carrot-Performance Based Compensation

Believing “if only I had an exceptional performance compensation system then employee productivity and accountability will follow”, is as wrong as the company that pays “Christmas Bonuses” and doesn’t understand that it’s no more than an entitlement.  Within this three-part series, we will outline methods of creating a performance pay or incentive plan that works. ...
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Series Part 2: Making A Difference With Our Clients

A new remodeling client was suffering from seeing residential jobs succeed. He estimated the jobs had 35%-40% gross profit dollars attached to them, but he was ending up with gross profits on his P&L’s in the teens.  Their actual gross profits on sales after material and labor costs (inclusive of tool and vehicle costs) were...
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Series Part 1: Making A Difference With Our Clients

I spoke to a potential future client (PFC) for a few years, giving them insights into their company’s operations, some recommendations, but they never asked for assistance from our firm based on those recommendations, just called for advice.  The PFC was a service company in the healthcare industry, hiring healthcare professionals in clinical research.  They...
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How Do I Make My Employees Accountable?

Over my 30 plus years of working with privately held and publicly traded companies, I’ve heard the term “accountability” almost as much as the term “cash flow”. I’m often told, “I hired them for their experience and expertise, they know their jobs, but I just get what they give, not what I want”. This leaves companies...
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