if losing people is a disaster, you should be paying them enough that it would be insane for them to leave unless they were planning a complete career change.

if losing people is a disaster, you should be paying them enough that it would be insane for them to leave unless they were planning a complete career change. Not to go against the immediate interests of my fellow workers, but how often have we seen advice to people to build up a fund so they can afford to go off and do what they really want - 6 months in the bank (or whatever) to let them really test a theory and start on their dream project? The better you pay those staff, the quicker they can build up that fund and leave you. Which isn't to say staff should be underpaid and glad of it! but that salary is only part of what keeps someone working where they are. Pay people fairly for the value they add to your business but treat them well and value their skills and intelligence and they won't need to move on to try out their dream because you'll be providing them a platform where they can test it and you can reap the profits.