If it costs $30,000 to hire someone and the the employee is making $100,000 a year, it will be quite some time before a 3% annual raise costs the company anything out of pocket.
I would add that if you are in the knowledge industry, the benefits of keeping knowledge from walking out the door can be significant. The benefits of good will from employees and former employees can be especially beneficial when it comes to acquiring staff.
Leadership means going to bat for one's subordinates. It is a quality which distinguishes good management from mediocre.
I would add that if you are in the knowledge industry, the benefits of keeping knowledge from walking out the door can be significant. The benefits of good will from employees and former employees can be especially beneficial when it comes to acquiring staff.
Leadership means going to bat for one's subordinates. It is a quality which distinguishes good management from mediocre.