"If you pay peanuts, you'll hire monkeys."

[The Rabbi]

This came up in conversation with someone in regard to an employee who was hired mainly because, although qualified, he was willing to work for less than anyone else.  Needless to say his performance hasnt been stellar.  But I thought the quote (delivered in a Cajun accent) was hysterical and true.

[Devonai]

I experience this phenomenon all the time in the security world.  You get what you pay for.  If I was in charge, my policy would be:

1.  All accounts are armed accounts.  Minimum wage is $15/hour, with +50 cents/hour for every hour of actual work the guard does.

2.  Guards are aggressively recruited through a cooperative program with the National Guard.  The NG wins as those guards who are already in will naturally pitch the organization to those who are not.

My company would probably go broke, but I think this is the way the entire industry should be moving.

[Paddy]

If you two guys are employers you know (or should know) that it's not only the amount of money you pay somebody, but how you treat them that will get you the level of performance you want.

[The Rabbi]

If you two guys are employers you know (or should know) that it's not only the amount of money you pay somebody, but how you treat them that will get you the level of performance you want.

"Pay" is a somewhat misleading term.  Total compensation is what is really meant.  If you have two jobs, one paying 10/hr and one paying 12/hr but the 10/hr one also provides child care or health insurance or whatever, then the 10/hr job is probably the more valuable.  Similarly, two jobs with identical compensation but one involves working with a loud-mouthed idiot, obviously the total compensation will be different.

[Perd Hapley]

Riley, no one's paying you for your opinion.  Now get back to work, or you're fired! 

Red-Commie, Union agitators...

[Brad Johnson]

"Show me the least respected and lowest paid employees in any organization, and I'll show you the people most responsible for that organization's success or failure."  -Unknown

Brad

[Paddy]

Of course 'pay' means total compensation.  As a competent and experienced accountant, I know that  
The work environment, however, is equally important.  It costs nothing to treat employees fairly and with courtesy and respect.  As an employer, you lose nothing by doing so, either.  Everyone knows who the boss is.

And scapegoat, I'm currently unemployed, so bite me.  

[Perd Hapley]

Did you get fired for being a Red-Commie Union agitator, demanding safe working conditions, 8-hour days, and all that other commie stuff?   


Sorry, Riley, I got all this from reading too much Steinbeck.   

[The Rabbi]

Of course 'pay' means total compensation.  As a competent and experienced accountant, I know that 
The work environment, however, is equally important.  It costs nothing to treat employees fairly and with courtesy and respect.  As an employer, you lose nothing by doing so, either.  Everyone knows who the boss is.

And scapegoat, I'm currently unemployed, so bite me. 

You missed my point.  Total compensation includes the intangibles of any job, including work conditions.
  It does not always cost nothing to treat people well.  Imagine a situation where someone is secretary to a real hot shot salesman, who also happens to be an unmitigated jerk.  If the company fires the jerk, their sales will suffer terribly.  If they keep him they will be looking for secretaries every 6 months.  My own take (based on experience) is that it is never worth it to retain someone like that, no matter how good he is at his job.  But other people make different decisions.

[Paddy]

Rabbi-
The solution to that problem is to find the right secretary.  You need a good match.  Someone who is confident and resilient with thick skin.  Let her know up front what the deal is and pay her well.  She and the loud mouth salesman will develop their own working relationship.

And scapegoat, no, I was not fired for being a commie.  I was fired for 'excessive internet usage'.   

[The Rabbi]

Unfortunately Mother Theresa is dead...

I've had that situation, sort of.  It was either the hot shot or the long time assistance.  Getting someone else wasnt an option.  The guy was gone.

[thebaldguy]

These days, you get the best service that the least amount of money can buy.

[roo_ster]

The title of the post is as close to a Universal Truth as can be found in econ/business.

[The Rabbi]

The title of the post is as close to a Universal Truth as can be found in econ/business.

Yes, thats what caught my attention.  It is the most succinct statement of the labor market's workings I have heard.

[K Frame]

If you two guys are employers you know (or should know) that it's not only the amount of money you pay somebody, but how you treat them that will get you the level of performance you want.

"Pay" is a somewhat misleading term.  Total compensation is what is really meant.  If you have two jobs, one paying 10/hr and one paying 12/hr but the 10/hr one also provides child care or health insurance or whatever, then the 10/hr job is probably the more valuable.  Similarly, two jobs with identical compensation but one involves working with a loud-mouthed idiot, obviously the total compensation will be different.

Bingo.

I've taken jobs that pay less because they have far better fringe benefits.


Ask Mtnbkr about his "loud-mouthed idiot" coworker...

[BakerMikeRomeo]

There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.

~GnSx

[Paddy]

Some employers think that they own their employees just because they pay them a wage.  They think of (and treat) employees as an expense, rather than an asset.  But you can bet that unless the employee is making them money, they wouldn't be there.

And what's wrong with unions?  Without them we'd still have sweatshops with 16 hour workdays and child labor.

[K Frame]

"And what's wrong with unions?  Without them we'd still have sweatshops with 16 hour workdays and child labor."

Anyone? Anyone?

Behuler? Behuler? Can you answer that softball?

[The Rabbi]

And with them we have idle factories that used to produce steel and cars.  Take your choice.
Why is it that the only unions growing are the public sector ones, with access to unlimited funds?
My grandfather was a member of the ILGWU in the twenties.  It was necessary then.  Sure isn't now.

[Paddy]

And with them we have idle factories that used to produce steel and cars.  Take your choice.

  When the industrialists could no longer exploit Americans, they outsourced (and continue to outsource) to third world countries where they can exploit impoverished people.  But we don't care.  All we care about is how much cheap Chinese crap we can fill our SUV's with from Walmart and Costco.  It's the American way, after all.  Well, this consumer based economy's days are numbered. We'd better start manufacturing something of value again.

[mtnbkr]

Ask Mtnbkr about his "loud-mouthed idiot" coworker...

Don't forget to ask about the near complete autonomy I have in doing my job, including the hours I work and the locations I work from.

Chris

[Brad Johnson]

Well, this consumer based economy's days are numbered. We'd better start manufacturing something of value again.

You do realize that comsumption is the only reason an economy exists in the first place?

Brad

[Paddy]

uh-huh.  I talking about consumption predominantly from foreign sources.  As time goes by, those foreign sources own more and more of our money, and our landfills overflow with their junk.  And that's a good thing............how?

[Brad Johnson]

uh-huh.  I talking about consumption predominantly from foreign sources.  As time goes by, those foreign sources own more and more of our money, and our landfills overflow with their junk.  And that's a good thing............how?

Well, if our over-regulated, over-litigated, and over-unionated industries ever have a chance to crawl out from under the umpteen thumbs holding them down they might be able to catch up. Until then, foreign-sourced products will be the rule of the day.

[Paddy]

Well, if our over-regulated, over-litigated, and over-unionated industries ever have a chance to crawl out from under the umpteen thumbs holding them down they might be able to catch up. Until then, foreign-sourced products will be the rule of the day.

Translation: The country may be going to hell in a flaming handbasket, but by God, the corporate shareholders and executives will extract every last penny out of it in the meantime because its' the gubmint's fault.