#378 - When should a salon owner reduce commissions?

Ever feel like your salon's commission structure is holding your best stylists back? Are you trapped in a cycle of high turnover and struggling to keep top talent engaged? In the last couple of months, there have been a few conversations where I have had to address this topic of overpaying people and we have had to take a deep dive into the compensation model. In this episode, I share what overcompensating in the salon looks like, what the best way to calculate a compensation percentage is and some of the biggest compensation mistakes salon owners make. There are definitely risks of overcompensation, and this can be a scary (and controversial) topic, but with the right steps you can create a win-win scenario for both you and your stylists and build a thriving salon culture where everyone feels valued and empowered!  With Grow My Clientele Calculator, you'll get instant clarity on how many new clients you'll need to hit your 2025 financial goals! Enter just four numbers, and this tool will show you exactly how many new guests you need monthly and yearly to reach your target income. No guesswork or complicated math required, and you can get it now at www.thrivingstylist.com/growmyclientele/!   Do you have a question for me that you'd like answered in a future episode like this one? A great way to do that is to head over to Apple Podcasts and leave a rating and review with your question. I'm looking forward to answering your question on a future episode on the podcast!  If you're not already following us, @thethrivingstylist, what are you waiting for? This is where I share pro tips every single week, along with winning strategies, testimonials, and amazing breakthroughs from my audience. You're not going to want to miss out on this. Learn more at: https://thrivingstylist.com/podcast/