Posted by Juliette Riddle
Uploaded 34 days ago
Finding good employees is one of the most challenging aspects of growing your small business, especially in trade industries. Talented and skilled workers are in high demand and can choose where they want to work. But what about non-skilled employees who show potential? How do you know if they are worth as much as your skilled employees?
Hiring a new employee is a gamble. Will they fit in with your company culture? Will they remain loyal? Will they be able to do the job and provide exceptional customer service? When you have a new employee who meets or exceeds your expectations in most categories, is it worth it to give them a raise to keep them happy and engaged?
Paying what an employee is worth is easier said than done. What makes an employee worth a generous raise? Is it skill or potential? Skilled employees can show you their worth with their trade, and it makes it easy to determine appropriate pay scales; however, even when an individual is not skilled in the trade, they can demonstrate their worth through other means – being engaged, active learning and improving at the job, loyalty.
Yet even when you have found an employee who is willing to show up and be actively engaged with your company, setting pay scale policies is the best way to avoid questioning how to reward hard work. Set clear expectations for employees by creating goals and milestone markers. At each review, go through the list of goals with the employee and when giving their raise, explain how they have met those goals and where they need to continue improving for the next review.
When you have found an employee with potential, but lacking in training, it is worth investing in their future. If they are worth keeping, they are also worth training. This gives them incentive to continue being the good employee you know they are while getting the training to get them to the next level.
There is some discussion that giving out generous raises will incentivize employees to work less and could possibly send a message to the rest of the team that you play favorites.
This is where having set policies in place can help. When all employees are aware of how pay raises work, are held to the same standards, and are given individual goals, you can eliminate the emotional factor in generosity. You are paying based on your employees meeting individual goals on a consistent basis. Whether those goals are skill based or policy based, it eliminates much of the bias and keeps employees aligned with their own expectations.
Finding good employees is hard. Making sure you are keeping them happy, without being held hostage can be even harder. But at the end of the day, it is your company and you know who will be the best individual to help you grow. Keeping good employees happy is a big part of that strategy.
And, as our members know from experience, if you don’t make employees feel appreciated, someone else will.
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