Last Updated on Apr 17, 2020 by James W
Have you ever wanted to make your business going with the help of professionals? Would you like to make sure that the people that work for you are motivated enough to make things work as expected, without any problems whatsoever? Well, believe it or not, finding new people who are both professionals and easy to cope with on a short period of time is usually an impossible thing to do. We either find the wrong people or we lack the necessary job positions when they come across our sight. Still, as time goes by, there are things that we can improve to stick to the ones whom we want for the best of our company. These being said, in case you are looking forward to knowing more concerning the subject, make sure to stick with us and keep an eye onto the following lines in order to discover 4 different ways to pay your employees!
- Monthly Payment
Probably one of the most common methods of payment, the monthly one provides your employees the assurance that they can make their payments on time – as soon as the day of payment (the one both of you decided upon) kicks in. Still, the monthly payment is a method of helping your employees becoming more organized. Yet, this one works best with people who are married or have children, since they know that they have a set of responsibilities that they need to take care of at any time of day or night. On the other hand, for the younger people with less responsibilities upon their heads, the monthly payment is not at all an appealing way to provide them with the money. In addition, the monthly payment is the perfect way to go when you wish your employees are able to put some money aside – the less times you receive money, the better for the saving up part.
- Weekly Payment
As presented above, this one works best with youngsters. The more often they receive sums of money, the better for them, since their lifestyle is way too disorganised to try to put it in a prolific order. Of course, they know best what they need and what they want to do with their money, reason why it is perfect to use the weekly payment for the young people in your company. By this way, you offer them the most motivating method of payment in accordance to their wishes. On the other hand, they are not to blame – since we were just the same when we were about their age. What is not that great in this payment method concerns the fact that this is not at all an appealing way of putting money aside – since as soon as you know that the next week you will obtain a certain sum of money, you are more tempted to spend all of the money you have now – due to the fact that you know that soon enough the sum will be all backed up with a new one.
- Payment on Tasks
This is probably one of the hardest and the most annoying payment method. If the job you offer them is not financially motivating them, you might expect your employees to go for a more stable payment in the next future. Being paid on doing tasks might be a hard thing to cope with, since if your productivity decreases during a week (because of objective reasons), you basically can not pay the bills or the rent. Thus, this is definitely not a motivating method of payment, only in the situation in which the basic salary is by far one that is all worth it. Although this might appeal to some of us, in the end it all goes down to security and money – if you have a job that pays well and on time, you will most definitely stick to it as much as possible. Yet, if you own a job that provides you with a different salary each and every month (and most of the payments are different and even smaller than what you had in a different month), there is no reason why an employee would stick to it – not now, not ever.
This is an interesting method of motivating your employees. Every single time that you have the opportunity (especially the financial one), providing them with a set of bonuses is a nice way to keep them work at the same pace, as well as showing them that their work is truly useful. Thus, the more motivated they are, the more chances there will be for the business to offer them more bonuses in the future – just as a win-win situation. These being said, what are you still waiting for? Have you already managed to find the best payment strategy for yourself?