The Easiest Way to Hire and Decide on a Pay Structure | How Much Should You Pay Your Employees

As a small business owner or entrepreneur, how much should you pay your employees? What if you hire someone and they can't do what they said they could? How do you determine a fair pay and raise system?

This is the easiest way to answer all of those questions! Greg shows you the simplest pay structure that can be applied to any industry, but especially works well in trade industries.

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[sassyaccessories]

Thank you so much Greg! I just found this YouTube page as I am in the hiring process within my business. You have taught me so much so fast. I am sad to see that you have transitioned from the earth side but I am so thankful that you pumped out 3 videos a week and uploaded them to YouTube university for small business owners like me to come and learn from you. Thank you much.

[eddiexpharo]

Amazing tips. This makes everything so easy. Thank you very much!

[DanielleMathis-dbwl]

This was SUCH a helpful video! Thank you for posting!

[DomesticKrys]

💕 I’m looking to add on some additional staff soon as some of our team have left for college. Thank you

[fuquaycarsalocaltransporta]

We have drivers as independent contractors and we are debating switching to have employees instead. I love this video; it helps me understand what to do right if I switch. However, I was just thinking...do you think you can do this kind of structure with contractors? Or does that blur the lines to much between contractors vs employees?

[garrettmorris]

I have a problem with this paygrade idea.
Everyone usually tends to want the higher paygrade, but nobody really keeps in mind the quality of life.
I work in a factory that is understaffed, when I signed up there was optional overtime, but now it's mandatory.
With the option of volunteering to work.
Even then you are working 12 hour days regardless.
I don't want a $1 raise to worry about more things.
But they insist that I do. I'm happy where I'm at,
How does this effect the business?
And does this make me a reliable employee.

[ImpactSmash]

This is a gross oversimplification of how to determine how much to pay for a position. This doesn't account for two main factors - years of service and intangibles. I know of a situation where someone worked many years in a low paying yet highly visible position - When they left, the business suffered a significant losses because many people were so unhappy with the changes after the departure, they took their business elsewhere. People aren't interchangeable parts and finding opportunities to pay them the least amount of compensation is ultimately short-sighted - Focus on developing a high performing team. That will create the greatest likelihood of generating in a tight-knit, highly motivated, and more productive team, all of which leads to additional opportunities to grow an organization based on trust and mutual respect.