I think in the context of a holistic approach to keeping great employees, above-market compensation is important, whether they are "chasing money" or not. If your market rate is 200k, should you be happy with 150k? In all but the most extreme outlier areas of the country, that's more than enough for all your bills, have a fully funded 401k and Roth IRA, and recreational/spending/fun money on top of it. You might say "oh I like where I'm at" or "the devil you know beats the devil you don't" or whatever, but most people don't think like that. And the best people in your organization will look at places with equal or better culture, who are paying 10, 15, or 20% above that 200k market rate, and leave.
Getting your just compensation isn't about "chasing money," it's about making sure you're paid what you're worth. The market largely dictates that and it's easier than ever to get a rough idea (+/- 20% is pretty easy) of where you stand based on experience, industry, location, and leverage.
> I'd be surprised if the only things they want to stay is more money.
Getting your just compensation isn't about "chasing money," it's about making sure you're paid what you're worth. The market largely dictates that and it's easier than ever to get a rough idea (+/- 20% is pretty easy) of where you stand based on experience, industry, location, and leverage.
> I'd be surprised if the only things they want to stay is more money.
Nobody said that.