Getting Your Payroll Right With Loop HR Systems
Invest time in setting up your business systems & automate as much as you can
You don’t need to reinvent the wheel when it comes to setting up your business structure; Loop HR can help you put systems in place to improve productivity and help you to automate your salon HR functions.
We’ve spent years developing tools to simplify HR tasks, including salon specific pay systems. We understand there are many employment models and business owners want their pay system to be fair and flexible.
Of course, rewarding the right behaviours is key to driving the best practice and profits; which is why Loop HR pay systems work straight out of the box with suggested financial forecasts including drivers such as commissions and bonuses which can be easily added. All pay levels and incentives can be seen before allocation to demonstrate the forecast income and costs at every level of performance.
Our pay systems ensure every calculation is considered and accurate; meaning whatever model you choose; you have peace of mind and security knowing the data is consistent and correct. Meaning you can get on with running business without the stress of calculating targets or preparing payroll.
I’d like to streamline my business systems
Whatever pay system you use, it will form the foundation of your business, therefore it must work well for you and your team!
Create multiple salary levels, each level would relate to the technical ability, soft skills, experience and overall value a particular employee would bring to the business (different rates for different skill levels).
Once you have assessed the overall value of an individual’s contribution to the business, appoint a salary to that team member…
Set clear financial targets for each level (create benchmarks for success)
Each salary level should have clear financial targets
As the sales come in, communicate individual achievements to team members and focus them on what needs to be done to realise their goal.
Incentivise & reward
Bonuses could be agreed, these should reward specific achievements
Commissions typically relate directly to sales income and can be used to drive sales between bonuses or as core drivers with multiple commission levels.
Find out exactly what each team member is incentivised by and use this as a focus point.
Report sales progress to individual team members
Share sales progress, encourage and incentivise.
Give guidance where needed and recognition for specific achievements.
Retain the right team members through better engagement.