“Stop paying your workers for extra time.”
A business owner friend told me this a few years ago.
He said, “There’s no need to hire them if they can’t go the extra mile for you.”
I told him, “Always pay them more than they deserve, it will go long way!”
Six months later, he needed $500k to land a contract.
“If I pay the $500k, I’d not be able to pay them full salary for three months – I need to get rid of some staff… what do I do, Zeeshan?”
I told him to try this instead:
“Be honest with your staff – pay half salary for three months & later compensate the rest with extra incentives”.
He looked at me, shocked.
“Stop joking, this is serious.”
He called his workers & explained the situation.
Next day, the workers told him that they are ready!
They agreed to take half salary for three months.
My friend could not believe it. He got the contract!
Despite getting half salary, the workers gave their best.
They completed the project & made a huge profit.
They got all their outstanding salary & promised incentives after 3 months!
Few things I believe:-
1) It’s not always about Profits VS Employees
2) Firing is not the ONLY solution
3) Being involved in a bigger purpose is the BIGGEST motivation.