Contrary to what most business owners and managers think, well paid staff(high salaries) are a benefit not a cost. Why? Well paid employees are more motivated to do their work well, give more respect to their superiors and their salary greatly reduces employee turnover of the firm which can be a huge cost in the long run.A high employee turnover rate leads to additional costs in training new staff, costly mistakes of new staff as well as reduced output during the replacement finding time.
Competitive salaries also reduce sick days because employees are not only satisfied but also less stressed.
Recommended for your reading is a Ford study on high salaries.
James 5:4
Have a productive and blessed week y'all!
P&L
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