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Areas to consider in evaluating individual pay Past accomplishments as CEO and/or Functional Leader of the company Relevant, prior professional experience and track record Skills, behaviors, attributes, and presentation Compensation history ‘Keep the lights on’ cash needs Compensation in the form of equity (i.e., stock grants, stock options, etc.) Our executive compensation philosophy for emerging companies Top management, especially CEOs, should be paid heavily in incentive compensation – a mix of longer term and short term incentive compensation Lower base salary with the opportunity to achieve and exceed market pay in total compensation by meeting and exceeding goals and
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How To Think About Filling Talent GapsAny start-up or growing company knows that one of the biggest challenges is figuring out how to afford the right talent that can take you to the next level. The problem we often run into is that companies are looking for a Mercedes but are only willing or able to pay for a Chevy. We are going to dissect this challenge to help you determine where to allocate your budget and how to avoid some common missteps. Identify Your Biggest GapIs your team in place but you need help raising money? Sounds like a
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Over the years, we have interviewed thousands of candidates and one of the things we consistently hear about is how unprepared companies are for the interview. And guess what…it costs them A Players. Below are a few things that you can do to tighten up your interview process. Have a plan. Identify the interview team, schedule their time slots (allow 5 minutes between interviewers), distribute resumes and other candidate materials, and assign specific interview questions. Have it in writing and ask people to acknowledge and confirm their role. Start on time. Candidates always show up early for the interview. Don’t
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Since 1969, Andcor has promoted the growth of Minnesota-based startup, venture, and growth stage companies. We recently started a not so serious interview series with local growth company leaders. Twin Cities Growth Company Leaders…of the record. Brought to you by Andcor. Mike Jones, Co-Founder and CEO of Alchemy 365 and Union Fitness Favorite vacation spot? Kauai, HI What non-business book had the biggest impact on your career? Into Thin Air by John Krakauer. That’s the book that got me to join the Marine Corps which changed my career path forever Favorite Smart Phone App? Apple TV Remote App A meeting
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We’ve all heard the adage “work expands to the time available.” The same goes for a budget on a project; whatever amount you allocate (both time and money) will get used (and then some). Now, add in the fact that the company is having a pretty good year and matters get worse. Headcount grows, consultants are hired, technology projects get bloated and then all of a sudden the s#*t hits the fan. Numbers are missed for multiple quarters and the company is faced with a RIF (reduction in force), customers are lost, competitors get stronger…you get the picture. But once
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Interested in working for a growth company? Stock options are likely a part of the compensation plan. Here are some key questions to ask during the interview.
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Kieran Folliard, serial entrepreneur and master story teller, has another new venture, FOOD BUILDING. Learn about the man and his ventures from this MPR show broadcasted earlier this week.
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In the course of interviewing thousands of high performers over the years, there are many common threads of success. One of the most interesting is that nearly everyone had a “dirty” job in their past…a job that wasn’t fun, was below their “pay grade” but somehow after it was over contributed to their success. This “dirty job” factor seems to be fading away for today’s young professionals, but maybe this Ted video will help people realize there is a diamond in that piece of coal job. View the video here!
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