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07/29/2014

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Good lesson, Dan, about how unique circumstances can reveal the relative weakness of money alone in the compensation arena. Of course, I would argue that "compensation" to me is more like a shorter synonym for "total rewards" than a term signifying "cash pay only." The entire employee value proposition is what "compensates" people for their work time, in my particular view. Some of those elements that attract, reward, incent, retain, motivate, inspire, engage, etc., are externally supplied by the enterprise and some are intrinsic to what the person (each being different) gets out of the situation. Cash is just another tool. Not all rewards jingle!

P.S. Your use of the ubiquitous phrase, "Wait, there's more!" hints of late night infomercial applications, but I stubbornly refuse to accept that Chia Pets, the Popeil Pocket Fisherman or Snuggie Blankets can be that popular.

I'm too lazy to look it up, but I seem to recall a Peter Drucker quote about culture crushing strategy.

Dan, great point. When a company is selling their products like hotcakes, there needs to be more than compensation to entice and sustain the sales team. The foundation has to be strong enough (like you mention). That foundation should be built with multiple factors - everything that makes up the culture to non-monetary benefits. A company that values its employees in ways that not only cost money, but require a little more time, effort and understanding is one that has set this foundation. All these factors and more contribute to that high employee engagement, which ultimately goes full circle back to the foundation.

Tony,

Culture does crush strategy, mainly because strategy that doesn't account for culture is bad strategy. But, in the case where culture is amazing, but pay is limited I think even culture may sometimes not be enough.

Jim,

Total Rewards is a great term, but many still struggle to communicate this. In the face of limited monetary potential even the best total rewards will struggle.

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