Episode 253: Wait! Was I Supposed To Give Her a Raise? #BizTipFriday

Today we’re talking all about raises, salaries and bonuses, and Jilly’s back to help me answer a listener question around these topics. There are lots of different ways to compensate an individual, but as you’ll hear, it’s not always about money for him or her. As digital CEOs, it’s our responsibility to figure out what each team member is looking for, and then to help foster the greatness within each of them! The Recurring Revolution is back on April 25th, 2019! To find up more, go to http://jameswedmore.com/tribe  Are you ready to create your Business by Design this year? Be the first in line when the program opens by joining the waiting list at https://www.businessbydesigntraining.net/! If you enjoy this episode and it inspired you in some way, we’d love to hear about it and know your biggest takeaway. Take a screenshot of you listening on your device, post it to your Instagram Stories and tag us, @jameswedmore and @jillycedeno. We would also love if you subscribed to the podcast and left a review at http://jameswedmore.com/itunes. I want to invite you to help contribute to this podcast by submitting a question for the Listener Question of the Week edition of The Mind Your Business Podcast. All you have to do is go to http://jameswedmore.com/QA and record a question (under 4 minutes or less) that could be featured on an upcoming episode! In the episode you’ll hear: The different way we approach compensating our team members Our philosophy on raises, and why we never “hand” someone a promotion Two types of bonuses you could use and examples of how we use each of them How gross revenue does not equal net revenue, and the way this factors into what people are paid What really motivates a team member – beyond just money My goal for every single person that every works in our organization Why it’s essential to create an open environment in which your people can communicate with you For full show notes and links, visit: http://mindyourbusinesspodcast.com/podcast/253