Managing requests for more money begins with managing employee expectations at the outset. It starts day one, not six, eight, or twelve months after the employee is working for you. Spell out the guidelines the first day the employee becomes a member of your team. Explain when raises will be discussed and under what circumstances a raise will be given. Follow the same script with every employee and you’ll ensure everyone knows their lines and yours. I recommend this type of approach:
“Betsy, your yearly salary will be reviewed on your one-year anniversary date. At that time, any increase in your salary will be dependent upon your performance and contributions to the practice as well as the financial condition of the business.”
This makes it clear that more money isn’t just handed over because the employee has marked 12 months on the payroll. Enhanced compensation is contingent upon the employee’s performance as well as the financial health of the practice. There are expectations to be met. It’s about commitment, results, and a willingness to do more than hang around for a year. Which means you will need to provide performance reviews and measurements that enable employees to see the direct relationship between their performance, the success of the practice, and ultimately their potential for increased compensation.
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