In Module 2, we'll take apart wages and discover your True Wage Costs for each employee along with all those hidden expenses that can ruin a business. We'll also discuss building a proper Wage Structure for Growth. Oh, and we'll discuss YOUR compensation, and how much you should get paid.
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Introduction to Module 2
Open to view video.
Open to view video.
In this video, Manny will introduce your Deep Dive into wages; True Wage Cost, Wage Structure and what YOUR compensation should be.
True Wage Cost
Open to download resource.
Open to download resource.
Manny will explain how an employee's salary is only the beginning of what an employee "costs" you. He'll show the hidden costs that can must be included in your wage margin.
True Wage Cost Calculator Overview
Open to view video.
Open to view video.
In this video, Manny will give you step by step instructions on completing the True Wage Cost Calculator for YOUR employees.
True Wage Cost Calculator Instructions
Open to download resource.
Open to download resource.
This component will give you the detailed instructions from the previous video component along with the link to your True Wage Calculator spreadsheet.
Determining Your Pay
Open to download resource.
Open to download resource.
In this component, Manny will explain how most owners are underpaid and some are overpaid. But ultimately you must be paid FAIRLY. Don't worry, you'll keep the profit too! Here is a simple tool to help you determine your FAIR compensation.