Pay is a strategic competitive advantage

If done well. We used to look at pay through the lense of how to reduce pay, and negotiate with trade unions the smallest possible increase in salaries. It was a cost lever.

Now it’s a cost avoidance lever when done well. Paying people a fair wage actually boosts engagement, helps to attract better talent and can boost productivity.

Pay should not be seen as an “expense” but rather a strategic lever to pull upon.

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