46: When Your Team Ask For A Raise

What's your immediate response when a team member asks for a raise? Sometimes, the question catches us off guard. Other times, we're left wondering why they didn't ask sooner. Whatever the case, the big 'raise' question is an important one to have with your team. And, it's even more important that you respond appropriately so you don't step on anyone's toes or respond in a way that you'll regret later. This episode of the podcast is created with you in mind. As the leader of your business, the weight of the raise question falls on your shoulders. How should you react? What should you say? These are just a few of the questions that'll run through your mind when you're put on the spot by one of your team members. Shelli dives into this somewhat uncomfortable topic and reveals five of the most common mistakes that leaders make when a team member asks for a pay raise. By the time you finish listening, you'll have the confidence and insight you need to make the right decision. Make sure to stay tuned till the very end of this episode to hear a real life 'ask for the raise' story that you don't want to miss! In this episode, you'll hear all about: Common mistakes leaders make when a team member asks for a raise How to create a bell curve for your promotion and pay-rate system Tips for acknowledging your team's performance without a raise Join the BizChix Community Books, Tools or Events Mentioned: BizChix Live Stacking Your Team (SYT) Episodes Mentioned: 34: How to Create an Accountability Action Plan for Your Team 2: 12 Ways to Motivate Your Team Without a Pay Raise  Listen to The BizChix Podcast Work with Us: One Day Mastermind GrowthChix Accelerator Program ProfitChix Mastermind CEOCHIX Mastermind Strategy Session This episode was first published at BizChix.com/syt-46. Listen to our sister podcast, BizChix, on your app or at http://bizchix.com. Join the BixChix Community here.