Pay Your People More Than You Think You Should, on ExecuNet

Pay Your People More Than You Think You Should, on ExecuNet

Here’s what I say whenever someone asks my advice on compensation for a new candidate or a raise for a current employee:

“Take what feels right, then raise it by 10 percent. Or, if you can figure out what the person thinks is right, raise that number 10 percent.”

In other words, pay your people more than you think they are worth.

Overcompensation in the Real World

We can find examples of successful overcompensation all over the place.

I explore this and much more about this topic in a guest post that appeared today on ExecuNet. Click here to read the article in its entirety.

About the Author
Bill Munn
Bill Munn helps executives manage teams to their greatest potential, customizing coaching plans to maximize the performance of each individual. Through strategic visioning and in-the-moment issue resolution, he motivates leadership to spur mission-driven growth. As a 22-year management-coaching veteran and former Dow 30 top executive, Bill has supported hundreds of corporate leaders worldwide with practical wisdom, real-world action tools, and unbiased insight. An MBA and former professor of finance and economics, Bill is a dynamic public speaker and author of two books.

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