Salaries are expected, bonuses are earned.
Which would you rather have?
A huge salary, or a huge bonus?
I’d put my chips on black, you would say salary.
More predictable, right?
As the leader, I believe my purpose is to find great people, and align them on the same mission.
Their vision for themselves fits into my vision for the business.
I want everyone on my team to be thinking like an entrepreneur - getting the most out of their time.
Truthfully, I have found it to be an uphill battle attempting that through salary.
If you can show up, do the bare minimum, and collect a paycheck - where’s the incentive to do more?
Will the bare minimum get any of us closer to our visions?
“Got it, 100% bonuses only. No salary”
Haha no… - that’s not what I'm saying.
As an employer, part of my role in their life is to provide stability.
I don’t want them to create stress on whether they can pay for their kid’s food this month.
I believe in a base salary that covers their needs. Nothing more.
From there, we have a clearly defined bonus structure that shows how they can realistically achieve the financial success they want.
Is it based only on individual performance?
This ties back to the purpose of aligning the team.My bonus structure is tied to the success of the organization as a whole.
Why?
It encourages everyone to hold each other accountable to nothing less than greatness.
We provide our helping hand to the ones that are falling behind.
Because they know if this person is struggling, they will all struggle.
With this bonus structure, we are able to attract talent that is hungry for success.
Not someone who just wants to collect their pay and peace out.
Would this work for your team?I don’t know! Might be worth trying.
Consider how you can align the incentives of your team towards the overall mission.
The larger the pie gets, the bigger slices each person receives.
Anyways, that’s my principle behind compensation.
Let me know what has worked for you.
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I'm Zack with Talented.
We help you find great talent to hire for your Amazon business.
Skip the 10-20 hours it takes vetting and interviewing and skip to great candidates to choose from.
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