Are you getting more by paying more? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Are you getting more by paying more?

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in Human Resources,Leaders & Managers,Office Management

Paying great people more than the going rate always has been one way to create—and keep—a top-performing organization. Apply these four practices to get and keep the best:
  1. Pay more. If you go out of your way to recruit the best, happily pay them more than the competition.

  2. Reinforce the message that the extra pay is not a gift. Let people know they earn more because you expect more.

  3. Make a long-term investment. Over time, capable people make fewer mistakes and need less supervision. Don’t expect immediate payback; keep the long view instead.

  4. Stay on course. If people start to earn a lot because of the incentives you put in place, don’t cut back. Instead, discover ways that your organization can make even more money from their efforts.
—Adapted from Customers for Life, Carl Sewell, Currency Doubleday.

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