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Does Your Team Deserve a Raise?

How do you normally respond when your employees ask you for a raise? If you don't have any employees in your company, that's ok, just pretend you do. 

An employee in dire need. 

Lets pretend you run a business with several employees - fifteen or more. One day Jack, an entry level assembly worker, comes into your office asking for a raise. He explains he has three kids and his youngest just fell sick. He said he needed more money for his kid's meds. 

Normally in the past, if someone else was in this situation I used to say things like, "well, you can't make business decisions based on the personal financial needs of your employees." And I just realized I'm very, very wrong. 

This is the perfect opportunity to really inject some life into your team!

Maybe I was right in the past, maybe not. You can turn Jack down and say something polite like, "at this moment there's no room for that financially, but we can definitively revisit during evaluations." While most employees would probably understand that and just move on, they would probably get a second job to get that additional income they need. 

If Jack starts another job driving ubers overnight, he will start coming in late and falling asleep on the job. And driving so tired, Jack would be putting every passenger along with himself in great danger too.

So what do we do?

I can't believe I didn't think about this before, but since I've been studying mindset, the juices are REALLY flowing on the subject now. 

On Sunday I put out an article about important mind hacks, you can read it here. On there I briefly talk about the personality types and how getting to know yourself is important for the right mindset, but getting to know other people's personalities is important too. If you learn what moves people, you can get your team to do some really incredible things. 

In Jack's case, we already know what moves him -  what motivates him, so if we offer him something to chase instead of dismissing him, he will become an absolute beast at whatever it is his role is; instead of spreading himself too thin in two or three different jobs. 

If you really can't afford giving him a raise (let's be honest, most businesses can afford to give their employees a $1 raise if they stopped drinking expensive coffee), then give Jack a promotion and a carrot to chase.

Chasing the carrot.

Money alone is NOT a good motivator. Step back and analyze the situation. When Jack was chasing money, he sacrificed the quality of his work, time with his family, his health, and potentially the health of the uber passengers he hypothetically drove around all night. That's because he was chasing money by any means necessary instead of improving his already existing means. 

Unfortunately, we see that scenario way too often where managers turn a golden opportunity into crap by turning their employee away. Heck, who knows how many opportunities like that I dismissed myself! 

But see, if we think of Jack as a rabbit, how motivated do you think a rabbit will be if we give him money? Not very because that's not what a rabbit wants. Rabbits want carrots. So if you give jack a carrot to chase, he will be more motivated. What Jack really wants is help with the hospital bills, the money is just the vehicle used for the goal. 

So maybe the company can do a trade with a local doctor or hospital in exchange of a discount in the meds, and offer jack a 5% commission on sales if you reach some kind of goal. 

Creating synergy with your team.

There is no such thing as a self-made millionaire. Everyone got help from someone somewhere along the way. Instead of turning our employee in need away, we can help him by getting the whole team involved. You can even do some kind of fundraising barbecue and get the whole company and neighborhood involved. 

The point I'm trying to make is you can turn any regular situation into an opportunity to show off your superpowers. 

And I changed my mind about how I felt about this, that's also important to learn; you can change your mind, it's ok to do so. 

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Wealth Mindset HipHop Men, Husbands, and Fathers

Wealth Mindset HipHop Men, Husbands, and Fathers
Wealth Mindset HipHop Men, Husbands, and Fathers

Same journey, new friends. This is my first blog on this platform. I recently re-branded my twitter, and I am now going to start rolling out the new brand into the rest of my content. My new brand is helping hip hop men/husbands/dads develop a winning mindset and build wealth. I think this is the perfect way to start on a new platform.

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