Welcome to the first edition of The One Minute Manager. Our goal is to provide you with quick tips that will add to the success of your practice. Within 60 seconds you will gain an idea that will increase your profitability or simply ease the burden of a burning management issue. We hope you will find this a valuable resource.

The One Minute Manager . . . . .

Many partners are dreading this time of year. They are facing the anguish of the annual staff salary reviews. Despite your best intentions there always seems to be a slump in firm morale.

It is little wonder that salary increases have lost their positive affect. For many employees, the generous increase often only results in enough after- tax money to pay for their daily coffee at Starbuck?s. It is easy to become disillusioned.

You may wish to revisit your compensation strategy. Consider the benefit of a lump sum bonus that provides a meaningful financial reward. This is particularly effective if the amount is directly related to performance.

Under this concept, the annual salary is set at the average market value for the services provided by the employee. The performance bonus differentiates the top employees and becomes the reward for their extra efforts. You deliver the important message of superior income for superior performance.

We have seen our clients fundamentally change their culture by adopting this approach. A well conceived plan needs a perception of fairness and effective communications to achieve the maximum benefits. We have developed a performance-based evaluation that is easy to implement and is well received by staff as a positive tool to enhance their careers.

We welcome the opportunity of assisting you with your compensation strategy.