4 Common Compensation Mistakes and what to do about them.

Agency owners are confident addressing many topics but start talking about compensation, and confidence goes out the window. Few owners have a comprehensive compensation program; instead, deals are made one team member at a time until the entire “scheme” is nothing but deals.

In this session, we’ll review Four Common Compensation Mistakes and how to avoid them. Using real data, we’ll discuss the processes for determining fair and reasonable salary ranges, the potential for merit increases, and the role of bonuses. Attendees will even begin drafting a comprehensive compensation plan for their team.

KEY TOPICS WE’LL EXPLORE:

• Determining market salary for a position
• Positioning a specific candidate within the range of market salaries
• Creating a range for merit increases and positioning specific team members within the range
• Building bonus programs to reward key employees (when both their performance and the company’s performance dictate it)
• Developing a comprehensive compensation plan 

Attendees will leave with sample bonus plans and merit increase guidelines they can start using right away.