Paying Top Earners Accordingly.
Good people don’t take a job just for salary. They take a job for camaraderie, learning opportunity, or because of their career direction. As the CEO, your job is to clearly articulate those elements you offer your employees that are not money oriented, so that you can attract the best of the best talent without necessarily having to pay the highest wages. In almost every great company I have studied, the elements that recruited the candidates were what led to that company’s greatness. And in every failed company I’ve studied, it was a lack of attention to those elements that led to its failure.
At ViSalus, we spent so much time building the sales culture that now we find ourselves shifting gears to work on building the internal employee culture, so we can grow our company into a great one. I didn’t pay much attention early on to the employee culture because I was focused on building the sales culture in the field.
The sales culture is responsible for the current growth, and the salespeople should be greeted as heroes because they’re the ones generating the revenue that pays everyone else’s salary, but the one thing that could stop the rate of growth at this point is not building the employee culture to complement the sales culture. I’ve seen some businesses in my industry fail because employees and management actually grow to hate the very people who are generating the revenue. Early on in my career, I couldn’t fathom hiring people who were more expensive than I was, but one time a venture capitalist, realizing I was weak in the finance area, required that I hire a world-class CFO at a rate significantly higher than I was making. It was humbling, but I knew this individual was the best person for the job, and I looked at it as an investment in the growth of our company. I never regretted that decision.
One of our board members, Bob Dilworth, told me that when he was CEO of Zenith, his top salespeople made significantly more than he did. I was shocked. “They make twice as much as you,” he told me. “That’s when you know you got it right.”
Several of our distributors at ViSalus make more than a million dollars a year, and there is no employee, including myself, who makes anywhere near that. As CEO, you have to remember that all of these talented, well-compensated people are building your equity and your profits, and that contributes to your compensation.
At ViSalus, we spent so much time building the sales culture that now we find ourselves shifting gears to work on building the internal employee culture, so we can grow our company into a great one. I didn’t pay much attention early on to the employee culture because I was focused on building the sales culture in the field.
The sales culture is responsible for the current growth, and the salespeople should be greeted as heroes because they’re the ones generating the revenue that pays everyone else’s salary, but the one thing that could stop the rate of growth at this point is not building the employee culture to complement the sales culture. I’ve seen some businesses in my industry fail because employees and management actually grow to hate the very people who are generating the revenue. Early on in my career, I couldn’t fathom hiring people who were more expensive than I was, but one time a venture capitalist, realizing I was weak in the finance area, required that I hire a world-class CFO at a rate significantly higher than I was making. It was humbling, but I knew this individual was the best person for the job, and I looked at it as an investment in the growth of our company. I never regretted that decision.
One of our board members, Bob Dilworth, told me that when he was CEO of Zenith, his top salespeople made significantly more than he did. I was shocked. “They make twice as much as you,” he told me. “That’s when you know you got it right.”
Several of our distributors at ViSalus make more than a million dollars a year, and there is no employee, including myself, who makes anywhere near that. As CEO, you have to remember that all of these talented, well-compensated people are building your equity and your profits, and that contributes to your compensation.
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GJ Reynolds also known as “G” is a Passionate, Playful & Powerful Warrior Entrepreneur, Author, and Life Transformer. He is also a Visalus Founding Promoter, Ambassador, Co-Founder of the Body By Vi 90 Day Challenge, business developer, coach, mentor, trainer, public speaker and radio host. He teaches others how to have fun reclaiming their Life, Health & Prosperity! G is driven to assist others to reach their full potential and having their magnificence to shine. He loves to teach and work with like-minded entrepreneurs and professionals who choose to reclaim their personal power and transform their life, health and prosperity. He lives a life of purpose, on purpose and for purpose. He enjoys the process of his personal, spiritual, and professional journey, while assisting others to do the same. G is at his best when he is learning, teaching, inspiring, creating, organizing, and leading the way! He also enjoys communicating with others that are of like mind and is on a mission to assist millions of people to transform their lives! Need a little help?
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GJ Reynolds and/or SimplyG, and/or Beachlifestyle,
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“with explicit reservation of all rights”.
GJ Reynolds and/or SimplyG, and/or Beachlifestyle,
and/or Beachlifestyle Publishing.
“with explicit reservation of all rights”.
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