The Results, The Real Results of Performance Based Pay Episode 101
This week we got to talk to Josh Latimer about incentive-based pay or performance based pay. The way he did this in his company is rather unique for a service-based company. Mostly through trial and error.
Josh went through many different ways on how to put together a system that works for him and that’s what it all is about, a system! No matter what you do and how you do it, you’re creating a system that streamlines your business so that you can make more profit.
But the incentive-based pay adds to the metrics of your business. You can make more profit, your employees make more money and your customers can feel special. Your customers feel special because everyone in your business feels special so that’s going to create amazing results for everyone who interacts with your customer.
What Josh did was set a base pay for his techs and his supervisors. It was based on truck volume and the more the truck does in business volume gives everyone a chance to make more money each week. They had the opportunity to upsell, create new business and he has unique system for that also.
He makes the employee aware of their surroundings when they go to a client’s or customer’s house they look for things that could be done in the very near future, note some of the things that they may need to have done and they report back to the sales people.
Usually you don’t get a great technician and a sales person all rolled up in one. You get a good salesman and a good technicians, but very rarely do you get a situation where a good salesman is the technician. If you have that, that’s great, but don’t overwork your employees to do jobs that they’re not suited.
To combat this, Josh had really good system worked out with a bonus schedule that they could make bonus points to get dinners out, weekends away, football tickets and things like that.
So what is the system that will create a stronger unity within the core of everyone who works at your company? Your employees are happy and they are making more money. You’re making more money because you have given them an incentive or many incentives to your team members. They’re no longer just working for the hour, working for the dollar. Their goals are aligned with your goals as the owner and you can actually build a team instead of having an “us against them” type mentality. Now everyone works towards a common goal to increase the business.
What’s nice about when you treat your employees and they are WOWED like this is that you have a lot going for you. You have employees who don’t want to leave because they are compensated well, and because they are compensated well they tell their friends about your company which builds your list of people who want to have jobs. So you’re creating a backup workforce for one thing when you want to grow or someone leaves.
So Josh became a star business owner who implemented systems and grew systems! I would recommend that you go to his webpage WindowWell.com. If you’re looking to implement systems or looking to expand your systems a little more, buy his e-book. I know that he has also a Boot Camp where you can get more information on how to implement systems, so go to www.windowwealth.com.
If you have any questions that you might want to ask Josh go to Josh@windowwealth.com and shoot Josh an email… he will be happy to answer his email and help anyway he can.
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