My Reaction to Tip #5 - Steve Moore

As a CEO of a company you need to keep an eye on your competitors in the same business. The new disclosure rules are great because smaller companies are now required to name the companies that they are comparing their prices, etc. to. A representative from Eli Lilly & Co. said that they compare their pay practices against eight other drug manufacturers. Lilly & Co. is a smaller drug manufacturer that keeps a close watch on companies such as Johnson & Johnson to scope talent that they could bring to their company. This tip is focused toward the smaller companies that are focusing on keeping pace with thier competitors. Lilly spokesman, Mark Taylor, made a great point when he said that his company uses top-tier companies as benchmarks to make sure they are offering similar competitive packages.