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written by Allison Rosa
Evaluating Compensation and Culture With Lorna Weston-Smyth
Coach Lorna Weston-Smyth explains why culture beats compensation.
In addition to membership benefits, Forbes Councils offers access to educational materials featuring successful entrepreneurs. [Note: The full benefit is Forbes Councils members only — click here to find out if you qualify — though everyone can find more videos on our YouTube channel, here.]
In this video clip, Lorna Weston-Smyth of LWS Coaching and Training explains why a company that takes the time to develop their culture will be around longer and have a greater impact than one that is focused on bottom-line thinking. People would rather work for a company where they feel valued than one where they are being paid more, as long as their needs are being met. Once their needs are met, it comes down to culture.
Compensation is short-term planning. Culture is long-term planning.”
More about our expert: Lorna Weston-Smyth works with decision-makers to refine their thinking and make better decisions for themselves and their businesses so that they can create the culture and business that they want by choice, not by chance. Along with being a founding member of the Maxwell Coaching Certification Program, she is on the John Maxwell Team President’s Advisory Council (PAC) and serves as chair of the Website Committee for PAC and president of the Board of Directors for the Durham Workforce Authority. Lorna has also served on a number of other boards and committees including Toastmasters, the Whitby Chamber, Business Networking International and the Business and Professional Women organization.
Lorna has partnered with business owners and career professionals to significantly improve their productivity, enhance their decision-making abilities, get results and reduce their frustrations. She has guided new and veteran leaders to pursue and realize their dreams, helping them create real action plans, identify their blind spots and clarify their next steps while providing an accountability system through coaching and mentoring.
Forbes Councils members: Discover more great content at forbescouncils.com/education.