The Chris LoCurto Show 80 | What To Do When You're Overpaying a Team Member
Dec 10, 2014
11:31
Today I'm answering a listeners question about what to do when you're overpaying a team member. As small business owners and entrepreneurs, we make mistakes. When those mistakes effect our team members, it's very important to act with compassion and respect but "there is no ministry where there is no margin." It's a tough situation but you can treat an overpaid team member with dignity by giving them options that are fair and create a timetable for resolution.
In this episode you'll learn:
- The importance of a KRA & how to evaluate what winning looks like
- How to honor your team members while honoring your business
- How to give an overpaid team member options
- Why it should always be a gut-wrencking decision to dock pay or let someone go
If you've got a question, click the microphone on the right side of chrislocurto.com and we'll try to answer it on a future episode. Also, if you're not using KRA's in your business, what are you waiting for? Get more information at chrislocurto.com
In this episode you'll learn:
- The importance of a KRA & how to evaluate what winning looks like
- How to honor your team members while honoring your business
- How to give an overpaid team member options
- Why it should always be a gut-wrencking decision to dock pay or let someone go
If you've got a question, click the microphone on the right side of chrislocurto.com and we'll try to answer it on a future episode. Also, if you're not using KRA's in your business, what are you waiting for? Get more information at chrislocurto.com