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Leading Through A Change in Your Compensation Plan
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Something that’s not talked about is how to handle changes to a compensation plan.
These changes can be challenging, especially when it means a decrease in pay for many of the people on your team.
This could be short term effect, but it greatly impacts the performance of your team.
As leaders, it’s our job to navigate change and be that calming influence and the light when things get dark.
In this episode, I discuss why companies make compensation plan changes, how to communicate it to your team, and how to lead them through it and keep them focused and motivated to continually take actions.
Episode Quotes
“Compensation plan changes are for the future sustainability of the business.”
“You can't make people do something that they are not willing to do.”
“When humans are given something for free they have no emotional connection to it and place very little value.
“If there is no problem then there is no transformational sale.”
“Focus on understanding how to create value on the front-end.”
“As a leader it is our job to navigate change and be that calming influence and the light when things get dark.”
Listen to Learn
01:56 – Why companies change compensation plans
09:26 – How to effectively communicate compensation changes
15:02 – Implementing transformational selling
17:56 – Leading through compensation plan changes