Today I’m answering a listener’s 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-wrenching decision to dock pay or let someone go
If you’ve got a question, email us at [email protected] and we’ll try to answer it on a future episode.
Also, if you’re not using KRAs in your business, what are you waiting for?
Check out this post we did on KRAs:
Or fill out this form to get sample KRAs and start applying them today!
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Great episode Chris! I like that you stressed treating the employee with dignity. I have been on the receiving end of bad news from leaders who treated me like a son, and other who treated me like a commodity. I always try to remember the golden rule when dealing with people that I lead. I remember a quote something like ” people won’t always remember what you said, but they will always remember how you made them feel”