Been following your website and postings for a while now, and I am going to purchase your book. I run a taxi business just North of Toronto, and I was wondering if you have ad=ny advice or articles related to employee compensation…how should I compensate my drivers?
Please let me know, any advice is much appreciated!
Short answer is: percentage. In my 7 years in this business I have never seen a successful taxi business owner who pays just a salary to his or her employees. You need to have your drivers and dispatchers interested in making more money. Your options are:- paying a percentage
– paying a base salary + percentage
– paying a salary masqueraded as percentage (i.e. you advertise that you pay salary, but in reality the salary is just a percentage that’s paid every 1st and 15th of the month. I have several VERY successful clients doing this).
This is the best answer I can give you without knowing the details of your business model (whether you own the cars or drivers own the cars, if the fares are pre-arranged or you get most of your business at taxi stands, etc.)