Note that this data is from the 2020 Benchmarking Study, which is set to be released on June 16th. Don’t tell my boss I showed this to you.
The study has 200 pages of this kind of data, and if you’re interested in getting a copy, you can save $100 by pre-ordering here.
How Much Should You Be Paying Your Office Staff?
The data above is designed to set a benchmark; we generally advise agencies to pay in the 75th percentile of their local area. For most agencies, that will mean going a little higher than the benchmark for agencies of their revenue size in the above chart.
As you probably know, the unfortunate truth is that while your closest competition is other home care agencies, you’re competing for good staff with everything from medical offices to hotels.
As such, it’s good to keep an overall pulse on what various businesses are paying for positions similar to those in your agency. You can’t beat them all in pay, but you can probably beat enough of them that, coupled with a good culture and opportunities for development, you can attract some star players.
The Right People In the Right Seats
Jim Collins, well-known business thinker and author of Good to Great, says it best as he compares building a team to driving a bus:
”Those who build great organizations make sure they have the right people on the bus and the right people in the key seats before they figure out where to drive the bus. They always think first about who and then about what.
When facing chaos and uncertainty, and you cannot possibly predict what’s coming around the corner, your best “strategy” is to have a busload of people who can adapt to and perform brilliantly no matter what comes next. Great vision without great people is irrelevant.”
In future blogs, we’ll cover how many office staff to hire, which roles to hire for, and in what order you should hire them.
Until then, here’s to getting the right people on your bus.