Paying Your Employees Pays Off

Many business owners talk about how much they value their employees, how they’re all a family, and all that other superficial stuff that sounds ripped out of a Hallmark card.

Shoutouts are nice, but money talks a whole lot louder.

Making your employees feel appreciated through stellar compensation is one of the most important responsibilities of a boss. If your employees have to work up the courage to ask for a raise, that means that the boss is already behind.

Keeping your employees feeling valued is vital to the strength and success of your business, as it keeps your work environment healthy and protects the future of your business.

Better Pay = Better Effort

Your employees are far more than cogs in your company’s wheels; they’re the fuel that keeps your business moving. Their performances directly impact just how effective your company is, so you can say that it’s crucial that the people running your business actually give a hoot about their job.

You don’t need a formal study to know that the more your job pays you, the more likely you’ll be incentivized to do a good job. If I offered you $100,000 to do your neighborhood paper route every morning, it’d be a safe bet that you’d pedal as fast and as far as necessary to make sure you maintain that job.

The same goes for your employees. If they feel fairly compensated, they will be much more likely to stay engaged with your company and do their best.

Keep The Conversation Going

Your employees have to know that you have their back. If you maintain open communication between you and your employees about compensation (and then actually delivering), your employees can put full faith that as they improve, so will their pay.

Giving this potential will make your employees begin to think increasingly long-term about your business and not only preoccupy themselves with work that is only immediate since nothing is coming in the future.

Money Buys Your Company Happiness

Ever start working with people and see that their office is exceptionally happy? 

They’re probably getting paid well, or at least enough compensation to keep them engaged.

Wealth brings comfort, and comfort brings clearer minds. The happier and easier their lives are outside their job, the more likely their employees will have the mental space and more energy to keep up the work.

Employees who are engaged and feel well taken care of create an infectious, positive work environment. Those good vibes can also bleed into your customer transactions, as people can tell when your employees are excited about their company and are more likely to trust and want to work with your business.

Plus, when you’re bringing on new employees, nobody wants to bring someone into a sucky environment to drown with them. People will wanna come if they know they’ll be compensated fairly, and you’ll be able to attract a better talent pool of employees. Money might not buy happiness, but it can make your employees' workday more enjoyable.

Invest in your employees, and watch them return the investment back into their passion and effort for your company.