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The Compensation Ecosystem: Building a Thriving Salon Team | Nikki Le | CEO and Founder of Statements Inc. and Nikki Le Consultancy | Beauty Industry Business Coach | Salon HR Consultant | Compensation Consultant
Manage episode 449696288 series 2930394
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Tune in as Nikki Le breaks down how to build a thriving compensation ecosystem, from pay structures to benefits, to attract and retain top salon talent.
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KEY TAKEAWAYS:
🔅A Strong Compensation Ecosystem is Essential: Effective compensation includes not only pay but also benefits, growth opportunities, and clarity around job progression.
🔅Career Ladders Build Loyalty: Creating defined career stages, from junior stylist to senior roles, helps team members see their growth path and increases retention.
🔅Use Data to Drive Improvement: Tracking key performance indicators (KPIs) such as client retention and productivity ensures that growth and compensation are aligned with performance.
🔅Employee Experience is Key: Benefits like PTO and flexible scheduling are highly desired post-pandemic and help create a more competitive and loyal team.
🔅Personalized Career Paths Retain Top Talent: Offering customized growth plans, including leadership roles or commission-based overrides, can keep high-performing team members engaged and prevent turnover.
👉Follow Nikki on Instagram
👉Learn more about Nikki and here offerings here
👉Join us 11/18 @ 5:30pm Eastern Time on Instagram for Community Conversation - A Spotlight on Flex-Schedule Benefits & Paid-Time-Off (PTO)
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