As we enter fall and the fourth quarter, you may be pondering a change to your compensation structure for next year. Although it is extremely critical to develop a salary plan that is profitable for the firm, I suggest considering the broader business context first when making changes.

This involves reviewing the company’s strategic priorities, the product and service mix and the approach to finding new business and retaining existing clients. Analyzing these elements will help to determine which incentives and pay rewards should be offered.

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