November 29 - December 1, 2022    •    Austin Convention Center    •    Austin, TX

How-To Series for Owners & Managers: Compensation Planning for Specialty Retail

Nov 29 2022

4:15 PM - 5:00 PM CST

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:

  1. The Structure
  • Defining job roles, titles, and trajectory
  • Defining the levels and pay ranges within each role

  1. The Budget
  • Calculating Revenue/ Hour targets for the floor and business
  • Calculating overall payroll budge by using GMROI

  1. Bonuses and Incentives
  • The pros and cons of bonuses and incentives
  • Types of incentive programs

  1. 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.

Speakers

Karnan Associates LLC

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Karnan Associates, LLC

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Karnan Associates, LLC

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