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Old 15th September 2010, 08:25 AM   #1
Hugha
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Location: Austin, TX
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Default Employees And Money

My business is now 18 months old. I have 10 employees.

About 5 of them have approached me about loans.

One is constantly telling me he is ready for the next step (read: more pay), but he is too green.

Then I get hit up with I need to be paying mileage. I own a construction company and employees work on jobsites in varyign locations around the metro area.

I tried to be fair and indicate I would pay an extra hour if the project is more than 40 miles from the office. The thanks I get is employees asking so many "what ifs" that I could write a 50 page manual on mileage instead of trying to focus on business.

I am still trying to cash flow the business. I am frustrated with feeling like everyone has their hand out.

Next month will be the first month I pay my salary from the business and not my personal savings. It was only a few months ago I started paying employees from business income and not my savings.

Do I let the employees know this? I have a sense that they won't care.

Maybe I am just venting....

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Old 15th September 2010, 06:00 PM   #2
sequoia payroll
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Default

You are not a bank. You are an employer. You also do not have to pay mileage. They can claim their mileage on their tax return.

I really feel for you. I have a few construction companies, and they are really in a tough spot in this economy. Don't let your employees push you around. You have a business to run. Kindly remind your employees that we are in the middle of a recession and that there are 18 million unemployed people in the country who would love to just have a job.

Tell them a little nicer than I just wrote it, though!

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Old 18th September 2010, 12:29 PM   #3
Hugha
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We had a company meeting yesterday.

I mentioned I do not do loans.

I also mentioned that many employers do not help with gass expense and what I am doing is a benefit.

Then my operations manager asked how many in the room were unemployed before I hired them. They all raised their hands.

There were no more questions about gas and mileage after that.

My operations manager was unemployed before I hired him. I had no idea he was going to make that comment. It took me by surpirse and it was heartfelt from him.

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Old 18th September 2010, 09:14 PM   #4
AngelBiz
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My suggestion is not to get into the loan business with the employees. it is a losing proposition any way you look. What your operations manager did was brilliant.

However, there are ways by which you can "compensate" and motivate your employees to continue working with you (although I don't see they have much choice) and give their best to your business. I had written a post on my blog some time ago on low cost ways to motivate your employees. You might want to check it out here - http://www.angelbusinessadvisors.com...ate-employees/

Here is another post on how to reduce employee turnover that you might find useful - http://www.angelbusinessadvisors.com...oyee-turnover/

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Old 18th September 2010, 09:35 PM   #5
sequoia payroll
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Quote:
Originally Posted by Hugha View Post
We had a company meeting yesterday.

I mentioned I do not do loans.

I also mentioned that many employers do not help with gass expense and what I am doing is a benefit.

Then my operations manager asked how many in the room were unemployed before I hired them. They all raised their hands.

There were no more questions about gas and mileage after that.

My operations manager was unemployed before I hired him. I had no idea he was going to make that comment. It took me by surpirse and it was heartfelt from him.
Good for you! And good for your manager! Don't be surprised if he brings it up the next time he talks to you about a raise. If he does, reward him for it. His comments probably had as much weight, if not more, since he is one of "them".

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Old 19th September 2010, 04:07 PM   #6
AngelBiz
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Quote:
Originally Posted by sequoia payroll View Post
Good for you! And good for your manager! Don't be surprised if he brings it up the next time he talks to you about a raise. If he does, reward him for it. His comments probably had as much weight, if not more, since he is one of "them".
Very good point and I agree. Definitely consider him for a raise and / or bonus.

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Old 12th October 2011, 08:44 AM   #7
LFinkle
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This is a sticky issue. Be very very careful about loaning employees money and always have a way to recover whatever amount you loan through payroll deduction. One of the challenges with loaning money is they keep coming back for more. You become a 'bank' to them not just their employer and once you say no they are resentful.

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Old 21st October 2011, 04:18 AM   #8
kayetaylor
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wow sequoia payroll is right and he/she has a really good suggestion...

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Old 21st October 2011, 10:12 AM   #9
PennyLane31
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Default The power is in your hands

Hi Hugha,

I agree to what sequoia payroll said. "Don't let your employees push you around." You have the right to tell them whatever it is that you feel! You are their boss, right? I think, you're being too sympathetic. Don't let them abuse you. You deserve more than that. Your operations manager is not always there to save you. So I guess, you have to have the courage to show your employees that you are their boss and not someone they can just push around.

Penny

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Old 29th November 2011, 09:35 PM   #10
kathyink
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Default I think it is tough

I think it is tough being a boss. You have to handle cash flow and management of the business. If you have a start-up firm you will need to check on how many staff you can afford to hire. If you lack capital you will need to be careful of how you spend money for the company. Printer cartridges need to be purchased when your ink flow is low.

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