Mike Andes P4P (Pay For Performance) Book & Strategy - My Honest Experience

In 2022, we decided to give P4P a try! P4P which stands for Pay For Performance is a strategy pioneered by Mike Andes, it's a system that pays the employee a percentage of revenue of the business instead of hourly wage. Therefore the harder and more efficient you work the more money you will take home. It takes out all the subjective stuff like age, gender, seniority and experience and replaces it with how productive you are at work. Currently this season we are paying our employees $17 per hour, but after it's all said and done, majority of our employees make around $21-25 per hour which they love.

My only issue is the inability to track it on a daily basis, right now we are calculating the P4P every two weeks which isn't the best. Overall though, I'd rate the P4P to be a 9/10 and we will be using this strategy going forward! For anyone that is tired of doing hourly wage, I strongly recommend doing Pay For Performance.

Timestamps:
00:00 - Introduction to P4P
00:50 - Our 2021 experience paying hourly wage
01:58 - How we heard of P4P
02:18 - How P4P is working in 2022 for us
02:45 - Feedback from employees to improve efficiency
03:15 - Employees happy to work more on P4P
03:45 - Things that could be improved on P4P for measuring daily
04:45 - Profit sharing & P4P summary