Why Salaries are a Worthwhile Investment


Whilst it is important for businesses to cut costs and up returns, staff salaries should not be among the factors which are kept on a tight budget.

We see people as the most important aspect of any business. Where would your company be without them? As with training, benefits and salaries, your staff are your greatest investment and what you put in directly affects what you get back.

These are the three big reasons we think great salaries are worth it.


Proving you know their value

Expecting staff to work hard for a lower salary than they would get elsewhere says one thing: you donít appreciate their worth. Nowadays employee satisfaction is a major player in why people apply for jobs and if people arenít happy, they arenít afraid to job hop. Nothing builds a strong morale and work ethic like feeling truly appreciated by your employer. Ensure that the salaries you are offering are sending out the right message. You need to demonstrate that you are committed to your staff, that you appreciate them and that they are valued for what they do.


Retention and attraction

To reiterate, people job hop when they arenít happy. You want to structure your salaries so that you keep the great staff that youíve already got and are attracting the top quality candidates that you need. It is very unlikely that you will get experienced and highly skilled individuals applying to work at your organisation when they are in high demand for good money elsewhere. If you offer excellent salaries youíll have the advantage of excellent candidates, and the same visa versa.


Investing in your assets

Like any investment, it could take time to see a return, but providing benefits so that your best employees stick with your business will pay off in the long run. Every company needs people who have been there for the long haul, those who know the business inside out, have been part of the growth and changes, and who are loyal to the companies future. Keeping up with salary trends and staying competitive will ensure you always keep a selection of long-standing employees under your roof. A big win for employer brand and a big win for your investment.

Read more on improving your employee benefits:

6 top tips for developing your EVP

Staff retention Ė getting it right

Improving the candidate experience

close This site uses some unobtrusive cookies to store information on your computer.

Some cookies on this site are essential, and the site won't work as expected without them. These cookies are set when you submit a form, login or interact with the site by doing something that goes beyond clicking on simple links.

We also use some non-essential cookies to anonymously track visitors or enhance your experience of the site. If you're not happy with this, we won't set these cookies but some nice features of the site may be unavailable.

To control third party cookies, you can also adjust your browser settings.

By using our site you accept the terms of our Privacy Policy