WEBVTT 1 00:00:00.000 --> 00:00:01.310 My name is Rylan Grady, 2 00:00:01.310 --> 00:00:02.690 and I am a consultant. 3 00:00:02.690 --> 00:00:04.790 I run my own management consulting business. 4 00:00:04.790 --> 00:00:06.520 We provide consulting solutions 5 00:00:06.520 --> 00:00:08.700 in HR and Sales. 6 00:00:08.700 --> 00:00:11.720 So that's stuff related to your sales organization, 7 00:00:11.720 --> 00:00:14.400 compensation, talent planning, that kind of thing. 8 00:00:14.400 --> 00:00:16.700 line:15% I work with 3 or 4 clients right now, 9 00:00:16.700 --> 00:00:19.100 line:15% some large companies, 10 00:00:19.100 --> 00:00:22.690 line:15% a large asset management firm doing compensation design 11 00:00:22.690 --> 00:00:24.670 line:15% for some of their investment professionals. 12 00:00:24.670 --> 00:00:28.420 line:15% I'm working with one of the largest oil and gas companies, 13 00:00:28.420 --> 00:00:30.380 working on their sales organization as well. 14 00:00:30.380 --> 00:00:32.410 There's usually a interview process 15 00:00:32.410 --> 00:00:34.110 line:15% with some of the stakeholders 16 00:00:34.110 --> 00:00:35.890 line:15% or the manager that brings me on. 17 00:00:35.890 --> 00:00:38.250 line:15% I typically work with people who have titles 18 00:00:38.250 --> 00:00:40.210 line:15% like Senior Manager or Director, 19 00:00:40.210 --> 00:00:42.350 line:15% so probably not the C-suite, 20 00:00:42.350 --> 00:00:46.100 but folks who have particular scopes or projects 21 00:00:46.100 --> 00:00:47.840 where they know something is wrong, 22 00:00:47.840 --> 00:00:50.840 and they're hiring me to both evaluate that, 23 00:00:50.840 --> 00:00:53.360 make a recommendation, and start to try to work on 24 00:00:53.360 --> 00:00:54.760 implementing a solution. 25 00:00:54.760 --> 00:00:56.020 Consultants are often... 26 00:00:56.020 --> 00:00:58.092 You think of them as player-coaches, right? 27 00:00:58.092 --> 00:01:00.090 You coach them, and you do a little bit of the work. 28 00:01:00.090 --> 00:01:00.923 Show them how it's done, 29 00:01:00.923 --> 00:01:02.080 and then you continue on. 30 00:01:02.080 --> 00:01:03.110 I do project-based work, 31 00:01:03.110 --> 00:01:06.100 line:15% so it tends to be anywhere from two to six months, 32 00:01:06.100 --> 00:01:09.350 line:15% and then a lot of that ends up just rolling into retainers. 33 00:01:09.350 --> 00:01:10.530 line:15% One of the things about consulting 34 00:01:10.530 --> 00:01:12.640 line:15% is you've already invested a certain amount of time, 35 00:01:12.640 --> 00:01:14.610 line:15% and it's easy to scale up or down 36 00:01:14.610 --> 00:01:15.830 how much services you want, 37 00:01:15.830 --> 00:01:18.090 so you're able to just keep someone 38 00:01:18.090 --> 00:01:20.177 on a retainer or an hourly rate and say, 39 00:01:20.177 --> 00:01:21.700 "Oh, I want you to come in for this week," 40 00:01:21.700 --> 00:01:24.348 and that's kind of how the projects go. 41 00:01:24.348 --> 00:01:26.230 Again, I do a couple of different things. 42 00:01:26.230 --> 00:01:28.000 In the compensation area, 43 00:01:28.000 --> 00:01:30.779 some of the key workflows involved in that are, 44 00:01:30.779 --> 00:01:35.370 first of all, understanding how your overall total rewards, 45 00:01:35.370 --> 00:01:39.347 so pay, benefits, compares to your competitors, 46 00:01:39.347 --> 00:01:41.400 so generally, you have a sense 47 00:01:41.400 --> 00:01:43.630 line:15% for what you bring to the table 48 00:01:43.630 --> 00:01:45.360 line:15% in terms of for your employees, 49 00:01:45.360 --> 00:01:48.480 line:15% and compensation consulting involves 50 00:01:48.480 --> 00:01:49.510 line:15% getting a sense just for... 51 00:01:49.510 --> 00:01:51.000 line:15% in terms of pay levels where we're at 52 00:01:51.000 --> 00:01:54.420 and then, the mechanics of actually compensating people. 53 00:01:54.420 --> 00:01:55.570 How much is in bonus? 54 00:01:55.570 --> 00:01:57.150 How are you setting goals for that bonus? 55 00:01:57.150 --> 00:01:58.280 How much differentiation 56 00:01:58.280 --> 00:02:01.306 between superstars and mediocre performers do you want? 57 00:02:01.306 --> 00:02:02.423 That kind of thing.