Episode 310: From Corporate HR Leader To Independent Compensation Consultant - with Scott Trumpolt

In this episode, Ben is joined by Scott Trompolt, founder and principal consultant at Trompolt Compensation Design Solutions (TCDS).

With over 18 years in corporate HR leadership across the US and Germany, followed by more than a decade consulting globally, Scott shares his insights on effective compensation strategy, pay transparency, and the journey from corporate life to independent consulting.

The discussion covers the evolving landscape of compensation, the impact of pay transparency laws, and how compensation can be leveraged for employee engagement.

Scott also details his approach to structuring consulting projects, pricing strategies, and building a steady client base, as well as his motivations for writing "The Defragmented Consultant." He discusses how he initially relied on established relationships and positive word-of-mouth from previous professional contacts to win his first consulting projects. Over time, referrals and client recommendations helped keep his project pipeline full. As some long-term clients retired, he adapted by improving his website, using LinkedIn for outreach, and appearing on podcasts to reach new, "cold" clients. He emphasizes a long-term view, focusing on building relationships and lifetime client value rather than just single engagements.

Topics discussed include:

• The emergence and nuances of pay transparency laws and their effects on organizations and employees

• Linking compensation strategies to employee engagement and development conversations

• Trends in compensation consulting, including increased focus on variable pay and transparency in sales incentive plans

• Deciding between a niche versus a generalist approach as an HR consultant

• Structuring and pricing consulting services for different types of projects and client needs

• Focusing on client lifetime value, not just a one-time project fee

• How Scott Trompolt built his client base, starting with word of mouth and evolving toward a mix of referrals, LinkedIn outreach, website optimization, and podcast appearances

• Professional and personal challenges that come with independent consulting, and embracing continuous learning

For more insights from Scott Trompolt, including his approach to consulting, compensation design, and tips from his book, visit his website: www.hrcompensationconsulting.com.

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