Boss: "Unfortunately we can't afford the pay raise." HR Manager: "They were a top performer." Boss: "We still can't afford it." HR Manager: "Then we should definitely pay it so they don't leave." Boss: "That doesn't makes sense." HR Manager: "It actually makes a lot of sense." Boss: "How so?" HR Manager: "If we can't afford a cost of living increase, then we can't afford to advertise the position, interview, hire, onboard, train, and pay the replacement." It costs less to keep your employees than to replace them, especially good ones. #wordsofwisdom
Sounds like a classic case of 'penny wise, pound foolish'! Keeping top performers happy is not just a smart investment, it's also a great way to avoid headaches and expenses down the road.
It's crucial for companies to recognize the value of retaining top performers. Well said, Zeba Rajput.
I completely agree with you. Retaining top performers is crucial for any organization. The cost of replacing them is much higher than giving them a pay raise. It's not just about the money, it's about valuing and investing in your employees.
Absolutely, retaining top performers is a smart investment in the long run
Baki sari batain bd main, aisa HR kidr mily ga phly yah btao? Qk Pakistan main HR jo boss kheta hai us sy b next level py ja kr negotiation kr rha hota hai candidate k sath..!!
It's true! Keeping good employees is an investment, not an expense. Great insight.
Full Stack Digital Marketer | Zoho/Bitrix24 CRM Expert | Call Center Consultant | DME/ CGM Marketing Consultant | Facebook/Instagram Ads Expert | Google Ads Expert | US Healthcare Lead Gen Expert
8moMeanwhile, the boss is thinking. Next time i will fire this HR before advertising a new position 😲