My Business On Purpose

What do we pay our new hires? How do we know what the compensation package needs to be? Well, I can tell you it doesn’t start by asking, what is industry standard! One of the questions we get most frequently right now is “What should we pay our new hire?” Now, the first thing I’ll say is if you haven’t listened to any of our podcasts or content on your hiring process, you need to start there first.  You need to make sure you have a Job Role, performance expectations, all the processes needed for their role documented, and have communicated the Mission/Vision and Values of your business. Great, we’ve got that out of the way…we’re ready to hire someone, how do we know what to pay them? Well, I’ve sat with multiple business owners in the past month who have asked the same thing. They always start with, “Well, what are other businesses paying their Project managers, or admins, or sales guys…whatever they’re hiring for.” Friends, let me stop right there and say…that is a dangerous game to play! And it sets you up