Monday, April 25, 2011
Gains vs. Losses
Here are a few tips to avoid surprises:
a. If you have a convoluted formula for figuring out the bonus thresholds, make sure new hires are well-versed (or at least taught) the calculation.
b. Host quarterly, if not monthly, meetings to review the numbers with all stakeholders, and provide the benchmarks so that everyone can see what needs to be made up or if they are ahead.
c. Keep projections realistic.
It’s the surprise that hurts. To avoid losses in the people column, take time with the information that triggers on the dollars & cents of the job.