How to Pay Your Employees

For detailed notes and links to resources mentioned in this video, visit patrickbetdavid.com/how-to-pay-your-employees/

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The way you pay your employees will determine how much of your talent you retain and how much you increase loyalty in your company.

In this video I’ll cover different ways to pay your employees and I’ll also talk about different strategies you can use including hourly pay, salary, profit and bonuses, and equity.

Different Types of Employees:

Hourly Employees - 1:03
Salary - 2:51
Profits/Bonuses - 3:55
Equity - 5:18
Sales - 6:23
Comp Plan - 8:13

Strategies for Knowing How to Pay Your Employees

#1: Know What You Can Afford - 19:14
#2: Always Keep a Look Out for Free Agents - 20:54
#3: Know the Market for the Position You’re Hiring For - 21:39
#4: Learn How to Customize Pay, Depending on Talent - 23:09
#5: Set Up a Comp Plan in a Way to Incentivize Loyalty and Longevity - 24:40


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For detailed notes and links to resources mentioned in this video, visit patrickbetdavid.com/how-to-pay-your-employees/