We are looking to fill a couple of positions here at work. I am training with my boss who will be retiring this year. While reviewing some resumes today we got into a discussion about pay scales and wages. My question is this; If a job carries with it a given pay scale, let's say $20-$30 per hour, at what point do you as an owner stop giving raises without giving more responsibility? Meaning after years of getting $1.00/hr increases does an employer stop giving a raise? Or do you just caveat the raise with here are mor responsibilities to go with the raise.
Thanks for learning me folks.
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supply and demand. employees leave when they can get better paying jobs at another company. also when you got nobody to easily fill a job position you pay more. if nobody can fill job position at any wage then thats a problem of no supply. often boss doesnt think employee is good enough but in reality there is nobody better at job position. sometimes to be appreciated you have to leave.
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employees stop looking for jobs else where when there are none at other companies that pay more money to make it worth taking a chance at another company. why leave jobs for 0.10/hr more if you can get fired cause new boss is a nut job expecting miracles.
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many jobs have hidden benefits. i had job at
$27.70/hr and made $57,000 year no 401K match and next job made
$23./hr but make $78,000 year with overtime and 401K match
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i suspect at previous higher paying per hour job they knew with no overtime all year they needed a higher hourly rate to keep people
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doesnt take a genius to realize the lower paying job making a lot more money at the end of the year. got to look at total pay including benefits. for example if company gives $900/yr for a health savings account to pay medical bills that still is $900 that a different company might give $0
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i have seen where older employee asked for pay raise and boss said no you are at maximum pay. older employee just retired. boss ask's him come back for a month to train new guy. older employee says he will stay if he gets pay raise. boss says no so he goes back to being retired but he was nice enough to train new guy for 1 month at previous pay. the reality is when people are 62 to 67 many think should they retire this year ?? like think about it every day
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older employee might have back pain, or other pains and never say anything. you can bet they think about retiring when they are in pain