Comments on: Feeling Valued: The Dreaded Salary Raise Discussion http://thefasttrackblog.com/2007/05/16/feeling-valued-the-dreaded-salary-raise-discussion/ Angie Herbers’s latest Investment Advisor articles Sun, 21 Feb 2010 03:32:21 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: ANGELA HERBERS http://thefasttrackblog.com/2007/05/16/feeling-valued-the-dreaded-salary-raise-discussion/comment-page-1/#comment-37 ANGELA HERBERS Tue, 22 May 2007 02:17:19 +0000 ia-wordup-7730#comment-37 Damian: You are exactly right. One of the best ways to motivate talent, especially next generation talent like you, is “productivity compensation.” In other words, you get the work done when and how you want so long as you get the end result the company is working toward and you will be rewarded. The key is making sure the compensation is clear, established in the forefront, and promises are fulfilled. We are finding that these methods of rewarding on productivity, instead of things like seniority, are growing planning firms much faster then the average and retaining top talent. Thank you for your comments. Anyone else have thoughts? We’d love to hear them. Damian:

You are exactly right. One of the best ways to motivate talent, especially next generation talent like you, is “productivity compensation.” In other words, you get the work done when and how you want so long as you get the end result the company is working toward and you will be rewarded. The key is making sure the compensation is clear, established in the forefront, and promises are fulfilled. We are finding that these methods of rewarding on productivity, instead of things like seniority, are growing planning firms much faster then the average and retaining top talent.

Thank you for your comments. Anyone else have thoughts? We’d love to hear them.

]]> By: DAMIAN GALLINA http://thefasttrackblog.com/2007/05/16/feeling-valued-the-dreaded-salary-raise-discussion/comment-page-1/#comment-36 DAMIAN GALLINA Tue, 22 May 2007 01:12:58 +0000 ia-wordup-7730#comment-36 At 37 and after helping to grow my firm for the last 13 years, I say Amen! to the discussion. First, I am an employee not an owner. The compensation method that has been best for me and my employer is one that lets me give myself my own raise. Compensation tied to productivity gains... do X and I get Y. The boss knows what the built in profit is if I am successful, and I get to give myself my own raise without having to ask. I use the same method with the people I supervise. It works even for operations. It was the path to achieving lots of goals... documenting processes, paperless office, getting virtual office technologies, shortening statement processing times, achieving client retention goals... anything that is measurable. Damian Gallina, CFA Horan Capital Management (Towson, MD) At 37 and after helping to grow my firm for the last 13 years, I say Amen! to the discussion. First, I am an employee not an owner. The compensation method that has been best for me and my employer is one that lets me give myself my own raise. Compensation tied to productivity gains… do X and I get Y. The boss knows what the built in profit is if I am successful, and I get to give myself my own raise without having to ask.

I use the same method with the people I supervise. It works even for operations. It was the path to achieving lots of goals… documenting processes, paperless office, getting virtual office technologies, shortening statement processing times, achieving client retention goals… anything that is measurable.

Damian Gallina, CFA
Horan Capital Management (Towson, MD)

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