Pawnshop businesses have been in existence for
Pawn Employee Compensation and Productivity Problems
Pawn employee compensation is pay plus any benefits that your employees get for working for you. Output per hour measures employee efficiency and productivity. But does your compensation properly align with productivity? Ideally, an employee’s pay reflects the amount of work and effort they put into their job. That is not always the situation. When there is an inequality between effort and reward, there is a problem. If employee productivity exceeds compensation, the employee may feel unappreciated. Overworked and underpaid employees typically do not stay around too long.
Are You Paying Too Much?
Without pay upgrades for employees, you may face the turmoil of a high turnover rate. But how can you be sure that a change in pay will solve the problem? Just deciding to pay your employees more might make things worse. While there are employees working hard for little pay, the opposite is also true. You may be compensating employees too much based on their output. What motivates overcompensated employees to produce for you?
27 Factors That Influence Pawn Employee Productivity
Think about what can influence employee productivity. There are factors that are in your control and out of it that influence the productivity of your employees. Although there are far too many to list them all here, consider these twenty-seven employee productivity influencers.
- A Shift in Company Culture
- Access to Hydration at Work
- Air Quality
- Change in Pawn Operation Leadership
- Process and Procedure Changes
- Collaboration Tools
- Complimentary Snacks
- Employee Satisfaction
- Knowing Your Employees
- Managerial Communication
- New Technology
- Office Politics
- Onboarding System
- Pawn Shop Layout and Design
- Physical Activity
- Proper Tools and Equipment
- Shop Security
- Workflow Protocols
- Level of Workplace Cleanliness
- Workplace Diversity
- Team Dynamics
Pawn Shop Consulting Group Uses a Systematic Approach to Compensation
Pawn Shop Consulting Group understands that employees work best within a clear expectation-reward system. Expectations, goals, and aims must be measurable, trackable, visible, and obtainable. Part of what we do is create measurable goals for all your pawn employees. Of course, this includes executives, management, sales, support, and any other staff. We take all the guesswork out of compensation and productivity levels. Our systematic approach involves prosperous earnings, measurable goals, and predictable results. The Pawn Shop Consulting Group specializes in customization, and the productivity and compensation we put in place are to reach your unique business goals.
Allow PCG to perfect your workforce, enabling you to have pawn employees doing the proper job for the right pay. Pawn Shop Consulting Group does the legwork for you. With systematic genius, we analyze your pawn employee compensation and productivity metrics. The strategic insights and tactical advantages that help you improve your pawn business are something only PCG can deliver. It is our decades-long history of success, all backed by real data, that pawn businesses worldwide adore.
Stop Guessing How Much to Pay
Do not worry if, like most pawnbrokers, your pawn operation is not a systematic success-generating machine. Do you seem to guess at times rather than making educated determinations about paying pawn employees? Imagine taking the guesswork out of the mix. Knowing who to hire for what position and what to pay them is where to be running a business. The goal should be to compensate employees in such a way as to maximize productivity. If you feel like you have no idea where to start figuring that out, good. You are in the right place, call us now at 954-540-3697.