Lots of people rightly talk about the importance of paying people what they are worth. What seems to be easily overlooked is the need to put people in a position where they are able to create/contribute the full value they possess. It is hard to pay someone what they are worth if they are stuck doing work that doesn't tap into their true value.
The CEO Coach | CEO of the Year '19 | McKinsey, Skype | Author | Follow for posts about business, leadership & self-mastery.
Pay people what they're worth, or someone else will. Underpaying talent is a fast track to failure. Smart companies know this. They pay fairly because: 💰 It boosts morale. ↳ Happy workers are productive workers. 🚀 It drives innovation. ↳ Well-paid employees take more risks. 🏆 It attracts top talent. ↳ The best want to work where they're valued. 🤝 It builds loyalty. ↳ Fair pay = lower turnover. 📈 It improves performance. ↳ People work harder when they feel respected. Paying less might save money in the short-term. But long-term? It's costly. You lose: — Market competitiveness — Future growth potential — Company reputation — Your best people It's not just about the money. It's also about respect. And here's the hard truth: Talent talks. Your competitors? They're all ears. So, leaders, ask yourselves: Can you afford to lose your best people? Can you risk them feeling undervalued? Your team isn't just a line item on a budget. They're the engine of your success. Fuel them right. Invest in your people. Watch your business soar. ♻️ Repost to inspire your network. And follow Eric Partaker for more. 📌 Want hi-res PDFs of all my infographics? Try my free newsletter: ericpartaker.com/linkedin You'll get 60+ infographics for free.
