February 23, 2018
Pay-for-Good Culture? (Isn’t That Part of the Job?)
– Broc Romanek
This Pearl Meyer article by David Swinford is the best thing out there about compensation tied to culture. A lot of nice charts. And I do think that boards should oversee a company’s culture – to the extent they realistically can given their very part-time involvement. But I also think that management should be creating a good culture without needing extra incentive to do so.
Take leadership development. For a CEO, the task of creating a successful & viable deep base of managers is critical to the overall success of the company. My bet is the best way to get CEOs to focus on that is to not incentivize them to do other things. Rather than incentivize them to focus on this primary & straight-forward task. Sometimes I think we overthink pay arrangements and make them way more complex than they need to be…