As a business leader, you now that your company is only as strong as its team. So how do you get the most out of your team? Well, it starts with understanding what actually motivates the people in your organization. What makes them want to jump out of bed and come into work? Alright, that might be a stretch, but what makes them want to achieve amazing results while they’re clocked in?


Building the Perfect Compensation Plan

To build the perfect plan to compensate your employees, you first have to understand what’s important to them. This process starts with the onboarding process. Your HR team needs to know how to best profile new employees. Build a profile that highlights what they value most.


What’s the secret to this? Well, it starts with actually asking them. I know it might be a weird question to ask, but it’s critical to a new employee’s long-term success with your "most expensive cars"company. In the beginning phases of employment, an employee is highly likely to answer this question with the answer that they think you want to hear.


This is why follow-up is critical. In every monthly and quarterly review, ask the employee what’s important to them. To make this easier for your associate, a sophisticated leader won’t ask the question directly. Instead, they’ll ask a few probing questions about their personal life, work life and how they see the future. Then, the magic happens. Sit back and let your associate tell you what’s on their mind. The more freedom you give them to speak, the more you’ll be able to glean.


People love to hear themselves talk. This is definitely true for your team. If you give them the space to give honest feedback, they will enlighten you with their perception of their work and how they fit into your company.


With this information in mind, you’ll be able to better craft a compensation plan that is cost-effective at delivering motivation to your team. This helps cut employee costs, and maximizes productivity in your organization.


Happy Employees Help Improve the Bottom-Line

In a book titled “Make More Money By Making Your Employees Happy”, Dr. Nelson lays out the benefits of having a happy workforce. Money isn’t the sole-factor in creating a happy and productive workforce. A raise helps, but its effects are temporary and actually induces employees to demand even more of a raise next time around, in order to keep up the high. The cheaper, more cost-effective alternative is using the knowledge gained above, in the conversation you’re having with your team, to craft the perfect work environment for them.


Use bright colors on the walls of your workspace. Make sure to replace dim lights. Make sure to let ample sunlight in. Give your team the freedom to adjust their workspace, within reason, to meet their needs. Provide fringe benefits, like a membership to a gym or upgrades to the breakroom. You want your employees to feel relaxed and ready to take on the challenges of a demanding workday.


Expecting High Standards

Your employees, if given the tools necessary to succeed and a competitive compensation plan, will drive your organization towards its goals. Part of this, as a leader, is actually leading by example. Show up before your employees in the morning and leave after them in the evening. Take time to become knowledgeable on the things your team is working on. Let your team know you’re intimately involved, without micro-managing.


Holding your team to a high standard starts with your attitude and how you hold yourself to an even higher standard. While many aspects of employee measurement will be straightforward, other areas may be more difficult to detect.


For example, it’s easy to look at a spreadsheet and see if the level of production from your employee is rising or falling. However, it may be more difficult to diagnose what’s causing an employee to barely meet quotas or start falling behind.


This, in addition to Federal and State requirements, is one reason that companies drug test employees. If an employee is coming to work and having difficulty focusing, it may be difficult to diagnose what’s causing their difficulty.