If you don't create a reasonable, understandable and fair compensation plan, you'll start to see negative changes in employee behavior, like a loss of focus and wasted time. (Photo: Shutterstock)
What's really urgent in business? Rarely successful management strategies and especially compensation structures.
In December, my firm gets a lot of calls about creating comp plans. The firms reaching out usually want new plans for the next year, and they want them before the holidays start.
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Angie Herbers
Angie Herbers is chief executive and senior consultant at Herbers & Co., an independent management strategy consultancy for financial advisory firms. She can be reached at www.HerbersCo.com.
