Episode 36

full
Published on:

1st Oct 2022

Handling pay discussions

This is one of those things that every business owner will have to deal with at one stage or another, so it is definitely best to be prepared. At the end of the day, it’s basic human nature, one of the most prominent human desires is to feel important. Most people feel important when they are appreciated, and most people associate appreciation with pay. The good news is there’s more ways to make someone feel appreciated than money.

The labor market is extremely competitive, so your guys are always going to hear about others being paid more, they are probably being approached by other businesses to work for them on a higher wage. But there are things you can do that will stop your team members from taking those offers and put you on the front foot when it comes to that unavoidable pay discussion. The best part is these tips and tricks won’t cost you anything.

In this episode you’ll learn about brightness of future and how it can dramatically increase staff engagement and retention. There is an epic tip on creating margin to give your team pay rises, and even where you should be in comparison to other businesses when it comes to pay rates. Dealing with staff asking for pay rises can be super simple and even beneficial for both you and your team if you know how to handle it.

WHAT YOU’LL GAIN FROM IMPLEMENTING TODAYS PODCAST:

  • How to reframe pay conversations so you don’t lose all the power
  • An epic hack for creating the margin to give your team pay rises (you won’t even have
  • to lift a finger)
  • The brightness of future concept and how it can give you power in pay discussions,
  • increase staff engagement, and increase staff retention


LINKS MENTIONED IN THIS EPISODE:



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About the Podcast

The Profitable Tradie Podcast
How to build a profitable Plumbing, Electrical or similar business that gives you the time, money and freedom to enjoy life.
Are you the owner of a Plumbing, Electrical, or similar service business and looking to increase your profits and regain your freedom?

If you answered yes to any of the above then follow/subscribe now, this is the podcast for you!

Presented by Tony Fraser-Jones and Phil smith from Profitable Tradie. We dive into what it takes to build a profitable trades business that gives you the time and freedom you deserve.

We touch on topics like...
- How to hire decent tradespeople.
- What to do when clients don't pay their invoice.
- How to get around people beating me down on what I charge.
- Should I buy or lease my next van/truck?
- How to get my team to get off their phones and be motivated for work.
- The second easiest way to increase your profitability.

Along with sharing a ton of free resources so you can get started on what we're discussing right away!

We also talk with some of the world's most successful trades business owners and learn how they took their businesses from mediocre to multimillion.

In short. We don't know what we don't know.

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About your host

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Tony Fraser Jones