4 Rules You Need to Keep in Mind SET YOUR BONUS
PROGRAM UP FOR SUCCESS
2. Partner With Employees Let employees know you WANT to pay them more. Make it exciting that their paychecks could soon be fatter! Be open about where you want your pharmacy to head and how important they are to reach that goal. Talk with each of them to discover their ideas and passions. They are initially invested when they have a hand in creating the program. 3. It’s Not Set in Stone Warning — you won’t get your bonus program perfect the first time! That’s okay. You can change it up every month. Let employees know you are figuring this out with them and you probably won’t get it right the first time. Ask for their input and feedback and be willing to make changes. You might start with team goals and realize that didn’t work. Or you think a task is important for a goal only to find out it’s not. Needing to change your bonus program isn’t a failure. That is just the normal path when creating something new. 4. Start Off Easy There’s a reason transformation programs such as weight loss or exercising start off with quick wins. Winning motivates people to continue the hard work of change. Use this psychology in your bonus program. Make the first 2-3 months easy. Get your employees accustomed to winning and bigger paychecks! Then slowly raise the bar to make bonuses require more effort. Focus can be a magic tool. Don’t overwhelm employees with too many bonus tasks. I recommend starting with 2-3 at the most. You can add more complexity and tasks once you and your employees are seasoned pros.
It can be intimidating to create a program from scratch. That’s why DiversifyRx is here with resources and coaching to help you build a bonus program that works for your pharmacy. Here are four tips to keep in mind when on an employee bonus creation journey. 1. Know Your Goals Spend some time thinking about why you want a bonus program. Is it to attract new employees? Keep your current employees? Build more profits? Knowing your “why” will help frame your entire program and will make task selection easier. What are your overall goals for the pharmacy? Ensure that what you have your employees focusing on is in alignment with your pharmacy business goals.
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