To you, their salaries are just a line item in the budget. To your employees, they're much more. Your employees are your business, so ignore the following truths at your peril:
- Policy, schmolicy: Employees talk.
- They think about their pay a lot more than you do.
- They’ll let you take advantage.
- They don’t care about pay scales.
- When you negotiate, you both lose.
- No matter how much you pay, it’s not enough.
- Reasonable pay is okay.
The happiest and most engaged employees feel they work for something more than just money. It’s your job to provide that sense of belonging and meaning. Without meaning, your employees are stuck simply working for a paycheck.
Higher pay is great but the effects are fleeting. Respect, recognition, and a sense of real purpose last forever.
Article by Inc.com.