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Updated over 3 years ago,
Payment structure for personal assistant
As I've been growing my vacation rental management business, I am headed to the point that I need to hire someone for some of the day-to-day work so I can focus on growth and systems. As I've done a decent job of streamlining the work, it isn't a large amount of work but it is spread throughout the day. I thought in order to make it worth a job position I'd add some additional elements of more of a PA (some transaction management for my realtor work, etc).
Being that it is a job that is light work spread throughout a day, I am leaning towards making it a salary position. As the company and my work grows the job will also grow with it so it might become more and more over the years.
That being said how would you think of structuring things.
Do I do just a base salary and reevaluate it every year? 6 months?
Do I do it as a percentage of my property management? The more we are able to take on the more they make.
I'm hoping to keep it at a single employee so I'm leaning towards them being an independent contractor. Any benefit of making them a W-2?
This is my first time to employ someone for a company I own so I'm trying to get things well defined prior to searching. Any feedback would be appreciated!
- Timothy Church