Today I read a blog post by Allen Tucker which I thought is really worth sharing with you. It
summarized many aspects I consider true and important in life. Here’s a
quote to get you started:
When you overpay, you are first in line. Your stuff gets made first, and the other guy’s stuff gets done when there’s time. It gets rushed. Many of the intangible pieces that make up the quality of a product or service go out the door when we’re getting a deal. They’re doing a favor and sometimes when we bargain, people resent us.[…]
I always get great service. The staff who isn’t even waiting on me comes over to say hi. They know what I’m going to order, and if I forget something, they know it.
It’s about overpaying for things. That means you pay more for stuff you
could get for less. And you deliberately pay more because you know it’s
worth it in the end.
I don’t want to quote the whole article, so this is the last one. After
that, go over there and read it. It’s really worth it.
Top pay attracts the best people. Although freedom and recognition generally trump pure dollars for employee happiness, those that consistently pay their employees less, end up losing their best people.
Employees don’t ask for raises. On the infrequent occasion that they do, they’re not really asking for a raise, their telling you about the new job some place else that they found, which comes with a raise. It’s your job to make sure they never have a reason to look for that job.
Often companies that can’t afford to hire the best people end up this way because they don’t hire the best people (who will generate more money). If your business is struggling, look at your payroll. Do your employees resent you? Are they making a sacrifice to work for you? It is your job to find a way to keep them thrilled to work with you, and monthly pizza parties aren’t going to do it.
As always, you are only as good as the people around you. I couldn’t
find the link that brought me to this article anymore. Turned out it was
André Wendt’s retweet on Twitter. Thanks again for sharing, André.