What You Must Know Before Implementing Performance Pay

What You Must Know Before Implementing Performance Pay

With labor being one of the biggest expenses in a home service company (and the biggest thing we sell), it’s imperative to make sure the compensation model is accurate.

As companies scale, most start to implement performance pay.

However, if not done properly, it can be a disaster on multiple fronts.

In today’s episode, I share what you need to know when implementing performance pay in your blue collar business:

  • Overcoming the biggest fears and objections
  • The pros and cons of different models.
  • Why it’s important to always have your recruiting engine going.
  • Back test before implementation.
  • Have your standards, mission and values in place.
  • Have your scorecards in place for your team members.

Finally understand your finances and how to make them work for you.

Instead of sticking your P+L statements in a drawer, work with Blue Collar Business Advisors to get a clear path to profitability.

With a solid financial plan and expert advice, you can make informed business decisions and feel confident about the future of your business.