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GOOD PAY MANAGEMENT in a BAD ECONOMY
When times are bad and cash flow is slow, the last thing you need is a consultant to look at the pay of your employees, right? WRONG. This is when it is most critical. If times are bad now, how much worse will they be if you lose key people? If money for raises is limited, itís even more important that it go where it is most needed, where it will do the business the most good. And this is the ideal time to look at bonuses that pay off for increased business or reduction in costs.

"RIGHTSIZING" - THE RIGHT WAY
OK, so "rightsizing" is a stupid euphemism for shedding payroll cost, but you still might need to do it. Which will it be, people or pay? Or both? How should you decide? And is there a way that can make the company come out of this stronger, better able to take advantage of a turnaround, and be more competitive? Does this have to be an employee morale killer? Despite a lot of economic experience with these practices, most of your competitors will make a mess of it.

COMMON MISTAKES ENTREPRENEURS MAKE IN PAYING EMPLOYEES
Entrepreneurs and employees are different, and that's a good thing. However, there are common false assumptions about employees that entrepreneurs are prone to make. These assumptions are at the root of many small business pay problems. We'll also address: Who is a contractor? What about overtime? How to give salary increases. As well as What is true pay for performance?

WHAT IS YOUR EMPLOYEE PAY REALLY SAYING?
Money talks, but is it really saying what you think? Understanding how employees, even top performers, view the world differently than business owners is key to making pay plans say the right thing. A lot of people are out there hawking ideas for paying employees that simply will not work as advertised. Learn to avoid the traps (both financial and motivational) of adopting some of these ideas. You might be surprised at how vulnerable to these ideas business owners can be.

ROAD And OFF ROAD ORGANIZATIONS
While there are many different corporate cultures and styles, a useful split is to think of them as Rule Oriented Authority Driven and their opposite. How can pay support and enhance the culture you want? What are the pros and cons of each, and which might be right for your business? The implications of pay and culture have consequences that reach further than you imagine.

BUILD YOUR PAY STRUCTURE ON A SOLID BASE
An introduction to the principles of pay for performance. Making the pay strategy support the business strategy. Determining competitive pay and the level at which you wish (and need) to compete. Measuring performance and what pay for performance really means. How raises should be determined. Get an advantage over the three out of four small businesses who miss these fundamentals.

TARGET SALES COMPENSATION For ON TARGET SALES
Itís more than picking a commission percentage. Sales compensation plans need to take into account the specific responsibilities of sales people, there is quite a bit of variance. How to make the sales compensation encourage and reward the right sales. When is 100% commission the right alternative and when should you use a base plus commission? Does the sales compensation really encourage salespeople to bring you the right customers?

BETTER BONUSES BRING BETTER BOTTOM LINES
Basics of a good bonus plan and the common failings most fall prey to. What is NOT a bonus plan. Linking performance and reward, establishing the criteria. How much bonus is enough? Making the bonus dollars work for you all year long.

WHAT THE SAVVY BUYER NEEDS TO KNOW ABOUT EMPLOYEE PAY
When a business is being readied for sale, or when a buyer is looking at business to buy, a lot of things are scrutinized closely. But employee pay rarely gets more than a broad brush look, even though it may comprise 50%-75% of the businessí ongoing expenses, and a significant portion of its value. This is a look at the value of reviewing the competitiveness of pay on a job by job basis, as well as the pay policies and programs that are in place. The savvy buyer will want to know if they have major changes to make after purchase, and the smart seller will fix any problems before the sale in order to ensure a better price.

EMPLOYEE PAY PRACTICES CAN SIGNAL IMPENDING FINANCIAL TROUBLE
Payroll is not growing by an unreasonable amount, turnover (for now) seems normal, so how can there be a problem? But the way in which raises are given could be setting up a situation where problems are just around the corner. Sales compensation and bonuses, which seem to be sound can be failing to encourage the right performance, or worse losing the company money. A business' CPA can be much more than the fellow who does the balance sheet and taxes. Often they are the primary advisor to the business owner. Learn how to spot the point where a referral should be made to a compensation professional, and enhance your value to the client.


Fulminata Associates
P O Box 571301
Dallas, TX 75357-1301
(214) 321-5191


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