People Profits Principle #86
A city's "good job" pay rate can be determined
and used to recruit, engage and retain
What is a city's "good job" pay rate?
- It is a job pay rate that motivates the person TO KEEP THE JOB
- This is the KEY!!
- The rate will DIFFER BY POSITION and even by organization
- The rate will DIFFER GEOGRAPHICALLY
- The rate CAN BE IDENTIFIED and used to recruit, engage and retain
Higher pay rate + fewer but more productive people = PROFITS
Wouldn't you rather have this?
How can a "good job" pay rate be used for RECRUITING?
- The amount of the pay rate will DRAW IN applicants
- The applicants will be BETTER THEN AVERAGE due to the pay rate
- The level of PRODUCTIVITY WILL INCREASE
- Word of mouth WILL SPREAD due to the pay rate
How does a "good job" pay rate increase PRODUCTIVITY?
- The employee wants to KEEP THE JOB
- They will meet WHATEVER STANDARD is put before them
- You can SIGNIFICANTLY INCREASE the standard
- Many times you will have FEWER PEOPLE - making more money
- RETENTION INCREASES since they make more money then elsewhere