Building Unified Financial Visions

In my last blog I wrote about the need to get clear on your employees’ goals and needs. Creating compensation strategies without knowing your employees’ goals is as foolish as a waiter serving a customer the meal of his (the waiter’s) choice without even handing out a menu.

 Let’s suppose you’ve figured that part out. You’ve examined your compensation programs through the eyes of your employees and you’re confident that your total rewards budget is as efficient as possible. Now what?

 Time to ask the employees to do their part. They need to understand that maximizing the value of their rewards plan is tied to the success of your company. If you don’t succeed, they don’t either.  Let the employees understand that the more profitable your company is the more you’re able to share with them. (Let’s not forget that employees are interested in much more than financial rewards. Visit here for a reminder of the other important things that keep them there and keep them satisfied.)

 Where to begin? Ask some of your employees to answer these 4 questions:

1. What’s the future of our company look like to you? (Vision)
2. What are the key things that have to happen for us to grow and succeed? (Strategy)
3. What contributions are you most excited about making? (Role)
4. Why is the creation of our future company important to you? (Rewards)

 If you don’t hear the answers you’d like to hear you’ve got some work to do. You need a unified and committed team to succeed in today’s world. Getting your employees clear on those 4 issues will lay a foundation for that unified team. As employees understand how they can contribute to the creation of a compelling future (Your Vision) they will realize how committed you are to helping them achieve Their Vision. Sounds like a “Vision-Link.”