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> A statistically higher salary works well for luring employees, but doesn't help much retaining them. This is false. A high salary fixes the loyalty problem.
by otabdeveloper1 8y ago
> A statistically higher salary works well for luring employees, but doesn't help much retaining them.
This is false. A high salary fixes the loyalty problem. It won't, however, fix the motivation or competence problems.
> As soon as that developer is used to his half a million take home, which takes roughly three years, he'll start looking for a new pasture.
He won't if you're paying above market rates. Especially if that salary comes with strings attached. (Bonuses, stock, etc.)
- AlexTWithBeard 8y agoHigh salary alone will not create loyalty: there always will be someone who offers more. The "strings" don't work that well either: deferred comp matching is pretty much standard these days.
- otabdeveloper1 8y ago> High salary alone will not create loyalty: there always will be someone who offers more. "High salary" means "above market rate salary", i.e., you're the one who offers more than everyone else. Yes, it does definitely create loyalty, to pretend otherwise is stupid. There are some things people won't do for money, but it's an awfully small list.