<< BACK TO EPISODES

Unlocking the Truths Behind Employee Compensation | Tom Bouwer

June 16, 2021
PLAY ON APPLE PODCASTPLAY ON GOOGLE PODCASTPLAY ON SPOTIFYPLAY ON STITCHER
Email:
LinkedIn:
https://www.linkedin.com/in/tombouwer/
Website:
https://www.profitworksllc.com/

Episode Summary

Armed with a passion for helping entrepreneurs and leadership teams simplify, clarify, and achieve their vision, Tom Bouwer has worked with a diverse range of companies from start-ups to Fortune 50 companies. In addition to running three of his own companies in Turkey, he has nearly three decades of global management and consulting experience in multiple industries. This has enabled him to be quick in identifying and solving chronic issues that hinder companies from achieving optimal success. These days, Tom spends most of his time as a Certified EOS Implementer®, helping leadership teams implement EOS in their own ventures.

Episode Note

Compensation doesn’t have to be that necessary evil you throw over to HR. When done right, tt can actually be a tool that you can use to align and win together as an organization. Today, we broke down the conversation on compensation with my good buddy who also happens to be ProfitWorks’ co-founder, Tom Bouwer. In this episode, he talks about how crucial it is to have a philosophy around compensation, setting incentive pools, cost of living adjustments, and striking the balance between protecting the company from paying too much and making it meaningful for employees.

1:13 What entrepreneurs get wrong about compensation

7:54 How a cost of living adjustment is different from a raise

12:14 A better way to give bonuses

25:05 Tom talks about how to effectively get employees to bring issues out on the table

29:01 Incentive and commission plans are not there to manage your people, they are there to change behavior

36:12 Tom gives his take on paying for objectives

42:15 The importance of teaching your employees the business of business

46:44 A profit-based incentive plan is a great way for people to earn more and to make it more impactful

48:21 Tom’s passionate plea to entrepreneurs

“Do not overcomplicate compensation. Have a philosophy and use it as a tool for accountability, engagement in your culture, and your overall purpose for the organization.”

GET IN TOUCH:

MARK LEARY:
www.linkedin.com/in/markhleary
www.leary.cc

TOM BOUWER
https://www.profitworksllc.com/
https://www.linkedin.com/in/tombouwer/

Production credit:

Engineering / Post-Production: Jim McCarthy
Art / Design: Immanuel Ahiable

Latest Podcasts

Listen in on a candid and in-depth conversation between two people with a passion for excellence in the entrepreneurial world.
084: The Doctor Entrepreneur | Dr. Joe Galati

084: The Doctor Entrepreneur | Dr. Joe Galati

March 8, 2023
Listen Now

In this episode, Dr. Joe Galati joins me. Dr. Galati is a liver specialist in Texas who left his medical school faculty job to open his own private practice.

083: How to Get Into Flow | Dr. Torrie Higgins

083: How to Get Into Flow | Dr. Torrie Higgins

January 18, 2023
Listen Now

In today’s episode, I have a conversation with peak performance coach Dr. Torrie Higgins

082: How to Effectively Compensate Your Employees | Alex Freytag

082: How to Effectively Compensate Your Employees | Alex Freytag

December 21, 2022
Listen Now

Alex Freytag is a great guy who helps business owners get what they want from their businesses and life.

The Six Essentials Towards Your Purpose | Ted Bradshaw

The Six Essentials Towards Your Purpose | Ted Bradshaw

August 17, 2022
Listen Now

Ted Bradshaw talks about the 6 essentials of purpose.

Listen to All Podcast Episodes
© Copyright 2023 | All rights reserved for Mark Henderson Leary, LLC