What does it mean to ”fairly” compensate someone?

This was a super interesting conversation. We didn't come up with a great answer and I am left with more questions.

 

How do you decide how much an employee's labor is worth? How do they know if they are being paid fairly? Why is compensation such a hush-hush thing?

 

If an employee feels like they are being paid enough, is it okay for an employer to pay them less than market value? (This happened a lot to me when I was young.)

 

Simon Coles reminded us during the conversation that compensation isn't just about the paycheck. There is also: vacation, sick time, health care (in the US), retirement accounts and the company culture (which might be a pro or a con).

 

Each of my panelists brings a different perspective. Keji Moses owns a non-profit. Frank Galindo is in PR. Atif Agha manages people in the tech space and Simon is an entrepreneur.

 

Listen in and then let me know what you think - what does it mean to fairly compensate someone?

Connect with the panelists:
Keji Moses CMgr FCMI: https://www.linkedin.com/in/keji-moses-mcmi-61aaa6180/

Atif Agha: https://www.linkedin.com/in/atifagha/

Francisco "Frank" Galindo: https://www.linkedin.com/in/frankgalindo-mba/

Simon Coles: https://www.linkedin.com/in/sjcoles/

Dr Robyn Odegaard: https://www.linkedin.com/in/robynodegaard/

Want a summary of the Quick Hits I post every week, plus the links to the LinkedIn pages of each of the panelist to show up in your in-box every week? Just let me know where to send it: https://drrobynodegaard.com/quick-hits-notifications/

 

#QuickHits are designed to exercise your brain by letting you listen in on an unscripted conversation to get other people's thoughts on pertinent subjects. If you would like to join a conversation or have a topic you would like to hear discussed, please message me. https://www.DrRobynOdegaard.com

 

#COMPENSATION #paycheck