Hey, you guys, this is your coach, Andrea Dickerson here, and welcome to my Be Amazing warehouse where I am helping childcare business owners just like you be amazing at hiring your next staff within the next 12 weeks. Sounds good? Well, alright, in today’s video, I want to talk to you about how to deliver the best compensation plan without increasing your budget. I want to show you exactly what to do so that you can hire your next MVP by presenting the best compensation plan.
Well, alright, let’s dig in. Today I have some notes in front of me, so I’m going to go through my notes, and you’re going to see me look down because I want to make sure I deliver to you content that will help you change the game. The first thing I want you to learn how to do is how to reward your new hires. The first thing you have to do is move quickly. We are in a market right now where time is not on your side. Time is the enemy of execution. Whenever you find an individual that you like, that you feel would be great to be a part of your team, you must learn to move quickly. Even in an economy like this, when you understand that there’s a scare number of people that are applying to work in this industry, you must move quickly.
Number two, always call individuals. Whenever you find a team member that you’re ready to bring onto your team, let them hear from you. Don’t have your assistant call. Don’t have someone else call. If you are the person that’s making the final hiring decision, I want you to be the person to always call.
Number three, I want you to learn how to be enthusiastic about bringing on a new team member. You know what? You can be professional, you can be excited, and you can be enthusiastic. As a matter of fact, come on and practice with me. Say these words with me. “I am so excited. Out of one hundred interviews, I selected you. You are number one.” Now maybe you didn’t do one hundred interviews. Okay, I get it, but guess what? Let them know how important, how awesome they are, and how you are excited about bringing them onto your team. Express to them how you feel about their skill level or their background or even what you feel they would add to your team. So many employers ask teachers or interviewees what can you bring to the team. Well, you know what? What does that person currently possess that you see? Tell them that.
Alright, here’s number four: I want you to know statistics. Right now, employers are creating budgets for 2022/2023 so that they can have at least 3 to 3.6% of their budget set aside for increased wages. Now, with that information, do you know what that means? You have to apply the 10% rule. In my research of me wanting to make sure that I provide to you the best information to help you deliver the best compensation plan, I found out statistically that you want to apply the 10% rule when offering someone to become part of your team.
How do you do that? Well, remember, most individuals that are working will become your target audience when seeking to add employees into your business. When you find an employee, be sure that you’re ready to compensate them at least 10% more than what they’re currently making. No one is going to leave a job that’s stable; they know with; they’re comfortable with it for a job that’s going to pay them the same or less. Prepare your budget for at least 10% more than what they’re currently making. Why? Because the current employers are only making room for 3 to 4% increase in their budget, but your offer, when they begin, will be at 10%.
Well, alright, I’m excited. I want for you to take my ideas that I just shared with you, package them up in such a way that will help you deliver the best compensation plan to your new hire. Alright, package it up. Let’s get ready to go to the next level.
I want to invite you to join me April 1st through April 2nd. I’m going to be in Orlando, Florida, and I have a focus-driven conference that’s going to help you get clued in on the missing pieces to your hiring systems, to your on-boarding What I will teach you is what you need for your high six-figure or even seven-figure childcare business to be successful, to operate without you, and for you to scale and multiply. I know there’s a pandemic going on, but it’s systems that causes you to shift in a time such as this. Go now and get your tickets, www.jumpstartmychildcaresuccess.com.
Alright, as I always say, if you manage the childcare business that you love, you will love the childcare business that you manage. Bye, you guys.