Anyone Up For A Pay-cut?
Total weekly pay for 80% of the workforce has declined for 9 consecutive months. This is like a record – the last time it was this bad was during the great depression. It seems that many working Americans are taking pay cuts rather than hitting the streets.
Do you want this guy unhappy on the job?
I read about a pilot who took a 50% pay-cut. He was in the news whining about it. I couldn’t help wondering what his employer thought about him complaining bitterly to the media. I also thought about the challenge that companies have when they choose to keep people on the payroll, but shave back their salaries. Two things can happen:
1. People are grateful they still have a job and they do anything they can to help the company.
2. They whine like our pilot friend and become less productive.
Here is my theory: If you are running a great company and have treated your people right all along, plus you (the executives/HR) are also taking the same percentage pay-cut – Number One will be your outcome.
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