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I doubt that you can afford to pay your employees insane amounts and be competitive in most industries.

• DanielStraight 16y ago
  You misread. I said pay enough that it would be insane for them to leave without changing careers. If you're in the top 1% of earners for your field, it would be insane to leave your job (at least where money is concerned) unless you were moving to a different career. You aren't going to earn more money somewhere else. If you want employees who are "very, very good," you need to pay them very, very well. They've earned it.
  • bcrawford 16y ago
    Doesn't that, then, lead to a race-to-the-top method of pay that's ultimately unattainable? You pay them so that they're the top 1% so now other people do the same. Eventually, they're only in the top 10%... top 25%. Rather than throw money at a problem why not find ways to increase overall satisfaction? If money is a component of that, then great, but it doesn't motivate everyone. Often times people are looking for a better quality of life outside of the workplace: things like more time off to spend with their families mean a lot to some people and, if executed properly, don't hurt your bottom line either.