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“SIX DANGEROUS MYTHS ABOUT PAY”

“SIX DANGEROUS MYTHS ABOUT PAY”. Reality: What matters is not pay rates but productivity (and pay is just one mngt practice that impacts commitment, teamwork, and performance – need congruence)

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“SIX DANGEROUS MYTHS ABOUT PAY”

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  1. “SIX DANGEROUS MYTHS ABOUT PAY” • Reality: What matters is not pay rates but productivity (and pay is just one mngt practice that impacts commitment, teamwork,and performance – need congruence) • Reality: Low labor costs perhaps least sustainable competitive advantage (better to achieve competitive advantage throughquality, customer service, innovation, or technology leadership –harder to imitate) • Reality: Individual incentive pay undermines performance (e.g., teamwork) and overemphasizes short-term focus and politicalbehavior (and organizations paying on more collective basisoutperform those who don’t) • Reality: People work as much or more for meaning (and fun!) as they do for money (orgs may spend too much time trying toattract, retain, motivate through compensation – not enoughthrough work environment) (pay openness?) • Exceptional orgs see and pursue a better business model

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