Communication is the New Compensation

Posted on Friday, January 23, 2009 by Frank Roche

The money dried up. Businesses are in a tight spot. Bonuses are cut to the bone. Merit increases don’t merit much time because they’re put on hold. Stock options are underwater. So what’s left? Communication.

That’s right, communication is the new compensation.

When there’s no money to go around, it’s time to get back to basics. Talking to people. Talking about making R&D and operations work. Talking about competitiveness. And why you’re happy that the people you work with are there with you.

The money’s gone; the talk lives on. In these trying times, what you lack in rewards you can make up for in human interaction. Put down the Blackberry. Ditch the email. Stop with the voicemail. Talk to people. Get in touch. Communicate if you can’t compensate. (Yeah, I know that’s a wrong-headed construction, but I like how it sounds.) Communication is the new compensation.

User Comments

Ann Bares

Jan 23rd, 2009

Frank:

Great post … and completely true. I do annual research in my marketplace here on what local HR professionals think is the most successful compensation strategy each year. Don't yet know the verdict for this economic crisis, but when I surveyed following our last slowdown (2002), the top answer for best reward strategy was …. (drum roll) “open and frequent communication”. So, we know this. We just have to act on it.
rick

Jan 23rd, 2009

You are absolutely correct with one caveat. Communicate even when you can compens.ate. Too many companies think a check, or a promise of one through incentives takes the place of communication.

They are wrong
Frank

Jan 23rd, 2009

Rick, you have that rock solid. So true, so true, brother.
Strahan

Jan 23rd, 2009

Damn this one is good.
Frank

Jan 23rd, 2009

Thank you…I cringed a little when I was writing it because it could look a little self serving. But I think it's the real deal.
mszypko

Jan 23rd, 2009

Bill only likes it because it is inexpensive!
Frank

Jan 23rd, 2009

Thanks, Ann. It's funny…I guess more communication is an all-the-time thing. It's just that in this economy, it takes more authentic discussion. This is person-to-person discussions. Solid stuff.