Verne Harnish | How to Master the Art of Compensation

The Lawyer's Edge

Verne Harnish is the Founder and CEO of Scaling Up, a global executive education and coaching company with over 180 partners on six continents. Verne chairs the annual ScaleUp Summits and serves on several boards, including Chair of The Riordan Clinic, Co-founder and Chair of Geoversity, and Board Member of the Million Dollar Women community.

Verne is the Founder of the Entrepreneurs’ Organization (EO), a peer-to-peer network for entrepreneurs with over 14,000 members worldwide. He is also a keynote speaker and the Author of multiple best-sellers, including Mastering the Rockefeller Habits and Scaling Up — which has been translated into 23 languages and won eight major international book awards.

With his most recent book, Scaling Up Compensation, Verne details the importance of mastering the art of compensation to attract, retain, and motivate talent. Although compensation is one of your largest expenses, designing an effective system can be a strategic advantage.

In this episode…

What are the benefits of designing a non-traditional compensation plan? How do you go about crafting a plan that’s right for your business?

Many businesses within the legal industry abide by the “you eat what you kill” motto. In addition to this, many traditional leaders are not risk-takers, which makes a compensation plan shift seem impossible. However, Verne Harnish is here to share how anyone — including lawyers — can create a fair compensation plan that will attract the right talent, retain top employees, and drive success.

In this episode of The Lawyer’s Edge Podcast, Elise Holtzman is joined by Verne Harnish, Founder and CEO of Scaling Up, and Co-hosts John Corcoran, Dr. Jeremy Weisz, Joshua Chin, and Adi Klevit to talk about designing a compensation plan that’s right for your business. Verne emphasizes the importance of aligning incentives with the customers’ needs, shares examples of real-life companies’ non-traditional compensation methods, and discusses the steps you can take to differentiate your compensation plan.