The $100 MBA Show MBA2105 Q&A Wednesday: How much of a raise should I give my employees?
What are your employees worth? What will it take to keep them?
It’s a question every founder has to ask themselves, especially once the ball gets rolling. It’s Q&A Wednesday, and we’ve got a listener who’s finally making decent profits — enough to start spreading the wealth to the team that helped make it happen.
…but how much is a “good” raise?
Today, we’ll explore how to create a raise-giving formula that rewards and retains your best employees without hurting the business. We’ll discuss what factors go into finding that number, how to evaluate employees and their contributions, and how to make the whole process fair and transparent.
Of course, this is all based on our various experiments with salary increase structures and schedules, and the system we eventually stuck with.
Learn how to share the fruits of everyone’s labor with…well, everyone! Click Play!
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