- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Paying employees to stay
Posted on 8/13/19 at 8:45 pm
Posted on 8/13/19 at 8:45 pm
With many companies putting a lot of effort into retaining employees. Why don’t they just pay them what it take to keep them when they get another offer? Is there fear that after a couple of years your payroll would skyrocket and you would wind up over paying for mediocre people?
Is the thought you’d rather have a B- employee for 60K than paying the A employee 80k
Is the thought you’d rather have a B- employee for 60K than paying the A employee 80k
5
Posted on 8/13/19 at 8:48 pm to D Tide
if they are looking for other offers they have checked out and even if you pay them they still will be searching for other offers
Posted on 8/13/19 at 8:52 pm to D Tide
Pay isn’t the underlying reason why people leave.
Posted on 8/13/19 at 8:57 pm to lynxcat
I think companies do pay key employees to stay. Many employees view themselves as a key employee but in reality, there are normally very few employees that are that important.
Posted on 8/13/19 at 9:38 pm to lynxcat
quote:I would agree but , I think it’s why people stay. If that makes any sense
Pay isn’t the underlying reason why people leave
Posted on 8/13/19 at 9:44 pm to LSU1018
quote:I would agree that this is probably the truth with that said why do companies “ act “ like keeping people is important
think companies do pay key employees to stay. Many employees view themselves as a key employee but in reality, there are normally very few employees that are that important.
Posted on 8/13/19 at 10:13 pm to D Tide
If word gets out your organization is constantly caving to these demands, it will embolden employees to make them. Can’t let the inmates run the asylum. If they meet the first demanded pay increase, won’t the employee just demand another one a short time later? When is it enough?
There have been a few people depart my company that were thought to be utterly irreplaceable and about three months after they left, it was like they were never there.
There have been a few people depart my company that were thought to be utterly irreplaceable and about three months after they left, it was like they were never there.
This post was edited on 8/13/19 at 10:16 pm
Posted on 8/13/19 at 10:21 pm to D Tide
Pay is not the primary factor your top employees are staying with a company. It is a factor but not the top factor in most cases.
Posted on 8/13/19 at 10:50 pm to D Tide
quote:
would agree but , I think it’s why people stay. If that makes any sense
Don’t you see the problem that pay is not the reason they leave but it is the reason they stay (assuming that’s true)?
Then you’re paying an unhappy employee to stick around. Unhappy employees aren’t going to be good employees for long and you’re not fixing the problem they had with your company.
Posted on 8/14/19 at 12:12 am to Weagle25
quote:
Don’t you see the problem that pay is not the reason they leave but it is the reason they stay (assuming that’s true)?
Then you’re paying an unhappy employee to stick around. Unhappy employees aren’t going to be good employees for long and you’re not fixing the problem they had with your company.
not always
Money is not everything but it is certainly a large mass on the decision scale and all situations are different.
If we are discussing dime a dozen positions that is one thing but some folks in some jobs are in very high demand and are damn near irreplaceable, they can have a new gig in seconds.
Posted on 8/14/19 at 6:20 am to LSU1018
quote:
Many employees view themselves as a key employee
quote:
in reality, there are normally very few employees that are that important.
This. And you can only pay employees what’s you can pay them. If I have a small profit margin, I’m not going to overpay employees to stay, I’ll let them walk and replace unless they are an absolute key employee.
Posted on 8/14/19 at 7:51 am to cave canem
quote:
Money is not everything but it is certainly a large mass on the decision scale and all situations are different.
I’m not denying that. If it wasn’t a big factor then they wouldn’t have stayed when I offered them more money. But obviously if I was already paying them well and they were willing to leave, there’s a another big issue that they have a problem with. I don’t fix that issue by paying them more. I’m just getting them to stay until they get fed up with that issue again which won’t be long.
quote:
If we are discussing dime a dozen positions that is one thing but some folks in some jobs are in very high demand and are damn near irreplaceable, they can have a new gig in seconds.
Not really sure what this has to do with my point.
Posted on 8/14/19 at 7:54 am to D Tide
Key employees are put on a retention bonus plan that offers a bonus after so many years.
My wife is 1/3 of the way through one right now. It basically stopped any job searching/talk of moving for us until September 2021.
My wife is 1/3 of the way through one right now. It basically stopped any job searching/talk of moving for us until September 2021.
Posted on 8/14/19 at 8:10 am to D Tide
quote:
I would agree that this is probably the truth with that said why do companies “ act “ like keeping people is important
Because turnover is expensive with wasted hours searching for a new candidate and training the new hire.
Most employers don't really care about their employees beyond what they can bring to the company. They're expendable. But they'll act like they do to retain them for as little pay as possible.
Posted on 8/14/19 at 9:34 am to The Spleen
The real trick is to have a prosperous work / life balance for employees. Scheduled check ins or performance reviews are key to evaluating talent and productivity. Giving raises when possible and streamlining processes will lead to happier employees.
This is strictly for professional type offices, IMO. The plant worker types will always chase the money.
This is strictly for professional type offices, IMO. The plant worker types will always chase the money.
Posted on 8/14/19 at 12:17 pm to D Tide
Company A pays X. Company B pays X plus 15%.
Company A feels the employee, for the job they do, is only worth X. If you have a counter-offer situation, Company A is going to expect more out of the employee than what the employee is currently giving. That leads to all sorts of problems down the road.
This is why Company A will often let the employee walk, because they feel they can replace that person at the salary that person is currently making.
Company A feels the employee, for the job they do, is only worth X. If you have a counter-offer situation, Company A is going to expect more out of the employee than what the employee is currently giving. That leads to all sorts of problems down the road.
This is why Company A will often let the employee walk, because they feel they can replace that person at the salary that person is currently making.
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News