Episode 18: Pay Day Activities: Rewarding Accomplishments and Value

Compensation; it’s the value of value. On this episode of Veteran Led, John Berry emphasizes the importance of establishing an organizational compensation structure for your business. Compensation is much more complex in the civilian world than the simplified approach taken in the military – it’s a business tool. John will explain how the right compensation structure can attract top talent and work as a competitive edge in the long-run. John will describe how to take a meritocratic approach to compensation, and why individuals should be paid based on their accomplishments and the value they bring to the organization.

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0:00 - Introduction
0:41 - Military vs civilian pay structures
2:15 - Importance of key performance indicators (KPIs)
3:03 - Meritocracy vs seniority-based pay
4:25 - Problems with discretionary bonuses
6:15 - Mistakes with bonus metrics and overpaying
8:20 - Building vs buying talent in key areas
9:41 - Time to learn, then time to earn more
10:41 - Platoon leaders' responsibility for team success and bonuses
12:50 - Leader's role in helping team reach pay goals
14:14 - After Action Review