Determining Rates

Let's take a look at how to determine the perfect amount of labor revenue to share with your team. This metric is a key component to implementing P4P effectively and efficiently.

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Determining your Base Pay Rate will act as the floor for your employees to ensure they wont make less than a certain amount. We'll look at using Base Rate to be competitive in your local market and protect your bottom line.

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Techniques & Implementation

Implementing P4P can be a whirl wind and an absolute disaster if it is done wrong. We'll look at best practices for introducing this to your crew and what you can do to make sure P4P is rolled out well.

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What is Pay for Performance? We'll look at the logistics of running this system as well as its pros and cons. P4P is a new way to pay and the future of pay for the labor industry.

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Mike Andes has created this 2 page handout to easily go over all the ins and out of P4P with your crew and managers. Download this document and edit it to work best for your company.

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Opening the books is a huge part of P4P. If you want your team to think like owners then they need to be informed like owners. It's time to bridge the gap between owner and employee and start building a team.

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This functionality allows you to pay a higher rate to more skilled labors or pay more for more dangerous activities your team engages in.

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Variable base pay is a slippery slope to still paying your team hourly. We'll look at the pros and cons to this as well as look at when you might use this in your business.

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Project Manager bonus is a tool in your tool belt to pay your more experienced crew more. You can now build a team of leaders through providing opportunities for upward mobility in your company.

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Overtime is a contested topic when it comes to pay for performance. We'll look into the logistics of managing this waste in your business and what that means for your team.

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The yellow slip system is another crucial part of P4P. This is the quality side to the equation and ensures your customers are happy along the way.

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Training is important in any career, however on P4P this can cut into an efficient employees time. The training bonus allows your team to learn on the go without cutting into their pay or performance.

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Manual adjustments are your biggest lever as the owner or manager to still control your business. We'll look at how these can be used in a positive and negative way to adjust P4P to match real life performance.

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