The 3 Pay Rise Mistakes I’ve Made as a Practice Owner

Episode 25:

When Fair Work recently announced upcoming wage increases, I noticed something interesting.

There seemed to be two common responses. Some practice owners went very quiet, while others felt relatively unaffected because they already pay above award wages.

As I sat with it, I realised there was a bigger conversation to be had.

In this episode, I’m sharing three of the biggest mistakes I’ve made over my 20 years as a practice owner when it comes to pay rises, remuneration, and leading a team.

These aren’t payroll mistakes or compliance issues. They’re leadership lessons I’ve learned, sometimes the hard way, about balancing care for my team with care for the health of the business.

In this episode, I talk about:

• Why I used to think a pay rise was the only way to recognise and reward someone
• What I’ve learned about the difference between recognition and remuneration
• How avoiding difficult conversations can create more stress for everyone involved
• The importance of understanding the numbers before making people decisions
• How pay rises impact far more than just wages
• Finding the balance between leading with heart and leading with sustainability
• Why being a good employer doesn’t mean saying yes to everything

One of the biggest lessons I’ve learned is that good intentions don’t pay wages. Healthy businesses pay wages.

This episode is an invitation to step back, look at the bigger picture, and think about how you’re approaching pay rises, recognition, leadership and business sustainability in your own practice.

Questions to Reflect On:

As you’re listening, I encourage you to think about:

• If money is only one part of the equation, what other opportunities for growth and recognition can you offer your team?
• Is there a conversation you’re avoiding because you’re worried about disappointing someone?
• Are you making people decisions with both your heart and your numbers?
• If you say yes to a pay rise, what might you need to say no to elsewhere in the business?

How to Connect with Me:

If you’d like more support navigating the challenges of practice ownership, I’d love to welcome you into our community.

You can learn more about The Connection Co and the Allied Health Connection membership at: The Connection Co