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
For Trades & Contracting Business Owners Who Want More Profit, More Freedom, and Less Stress
If you run a plumbing, electrical, HVAC, or any other trades business and you’re tired of long hours, cash flow headaches, and pricing battles, this podcast is for you.



Join Tony Fraser-Jones and Phil Smith from Profitable Tradie as they break down straight-shooting strategies to help you make more money, work fewer hours, and get your business running smoothly—without the usual headaches.



We tackle the real challenges every trades business owner faces:
✔ How do I find and keep good techs when everyone is hiring?
✔ What do I do when customers don’t pay their invoices?
✔ How do I charge what I’m worth without getting undercut?
✔ Should I buy or lease my next truck or van?
✔ How do I get my crew to stop scrolling their phones and actually work?
✔ What’s the second easiest way to increase my profits? (The first is hitting play on this podcast!)



We also bring on some of the most successful trades business owners in the world—real people who’ve built multimillion-dollar companies—so you can learn exactly how they did it.



This isn’t just another business podcast. It’s your shortcut to building a highly profitable, well-oiled trades business that gives you more money and more freedom.



👉 Subscribe now and join thousands of tradies and contractors turning their businesses into profit machines.

About your host

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Tony Fraser Jones