Do those words, make your heart sink?
The reality is you are more likely to hear those words NOW than ever before. There is a shortage of talent in the market. Your competitors are also actively looking and may even be poaching your good staff.
The best form of defence is a good offence, get on the front foot and be ahead of the game by having clear “PayScale’s” in place. PayScale’s is a document that outlines how your staff can earn more by gaining more knowledge, skills and experience. It creates a compelling future for both your existing staff as well as when you are recruiting staff.
Most business owners underestimate the costs involved in recruiting and training new staff. One of the best investments you can make is developing “PayScale’s” which can have a massive positive impact on your profit and the amount of time you have to spend working.