Employee Retention Tip

Equal Pay for Equal Experience

Job benefits help increase job satisfaction. Many organizations are
forced to pay higher salaries for new employees. The problem is, current
employees feel they are being taken advantage of when they are paid less,
but have the same amount of experience. To make matters worse, employers
create rules telling employees they can’t discuss their pay and benefits
with each other. All this does is exacerbate the problem and further
escalate the perception of unequal treatment and resentment among the new
employees. Then, employees who have been there the longest realize the
only way they can get ahead is to find a better paying job somewhere
else. To avoid this problem, SAS has a policy if they are forced to pay
a new employee a higher salary than current employees with the same
experience, they will up the current employees’ salary equal to the new
employee. This practice ends up being much less expensive than losing a
good employee. This is only one tip to combat the worker shortage this
country faces in the next decade.

From Greg’s new book:
401 Proven Ways to Retain Your Best Employees

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