This 45 minute session will provide the building blocks for developing a compensation structure and strategy that suits specialty running stores. Parker Karnan, of Karnan Associates, will lead this session along with Midge Good and Maggie Butterfield – both previously serving as General Managers for prominent running stores and with a deep understanding of HR best practices in the industry.
The building blocks session will contain the following sections:
- The Structure
- Defining job roles, titles, and trajectory
- Defining the levels and pay ranges within each role
- The Budget
- Calculating Revenue/ Hour targets for the floor and business
- Calculating overall payroll budge by using GMROI
- Bonuses and Incentives
- The pros and cons of bonuses and incentives
- Types of incentive programs
- Career Development as an Objective
- What people look for in a career
- How running stores can make a career in their business look attractive
Attendees will leave with a compensation planning template to take back to their home businesses.
