If you own or run a company, you will know how stressful it can be to manage a team of employees. People make a business. Without a happy, balanced, focused work environment, your workplace can become unproductive and dissatisfying very quickly. As the boss, your job is to maintain balance and order while listening to the concerns and suggestions of everyone in the room. With great power comes great responsibility, and your responsibility is towards all the people who make up the fabric of your company.
When it comes to work satisfaction, one of the main aspects is pay grade. Paying your employees at least the minimum wage is obviously a requirement by law, but this isn’t enough. People want to feel as if they are valued at work, and one way to make people feel this way is to pay them according to their skill and experience. Every boss wants to cut costs, but cutting costs on the human side of things usually leads to a dissatisfied workplace and heavy employee turnover.
The Ripple Effect
So how can you re-evaluate how you pay your employees? It is a simple question of seeing value where value exists. Think of a single point, like a pin-prick, with ripples radiating outwards from it. The single point in the center of the circle is the humans in your company. They make the magic happen; they provide the innovations, the ideas, the work, the camaraderie, and the motivation.
The ripples emanating from the human center of your company is the success of the business. Be it the profit turned by the humans’ hard work; the change to people’s lives that your business implements; their families who are fed and kept safe by their hard work; or the international expansion of the company around the world. This ripple effect is only achievable by placing humans at the center of your operation.
The Payment Part
So where does payroll come into this equation? Surely there is more to job satisfaction than a competitive salary. This is true; the working environment, leadership style and general management are big factors too. But following examples of other businesses, such as Barr Nunn Transportation, will show that a focus on good pay works wonders. The story which shows that Barr Nunn Transportation Introduces Innovative Truck Driver Pay by offering truck drivers a total employment package rather than mileage-based pay grades proves that financially incentivizing your employees gives results. Your employees can enjoy their lives and support their families better, giving them greater satisfaction overall and helping them achieve their personal goals.
Conclusion
Humans have great value beyond financial worth, but in the workplace, money is the name of the game. After all, most people do their jobs in order to save money, buy a home, and support their family. Without proper opportunities to do so, many will go elsewhere, to a workplace that values their services more highly.
