Do you know someone who quit their job because their pay raise was insulting? It may have happened to one of your team members. Or even to you…
It’s an understatement to say that pay raise time can be contentious. Blood pressures rise. Tempers are lost. And top performers are lost.
You know that badass team member who’s your pride and joy? She makes you gush with pride because she’s so insanely receptive to your feedback? She may not tell you, but she’s expecting a 20% raise.
You sit her down during annual performance review time.
After a nice, long conversation about her areas of strength and weakness, you give her the #’s. She’s getting a 5% raise. She’s going from 95,000/year to 99,750. “You’re approaching the 6-digit mark,” you say, “Congrats.”
She stares at you for a few seconds. She’s speechless. No, she’s not excited she’s close to 6-digits. She’s pissed. Fuming inside.
But you’re clueless. She simply says, “Okay” and walks out.
She’s strangely quiet over the next few days. Taking a lot of phone calls in the hallway. Then she tells you she’s leaving. You later learned she took a job with one for your competitors for 120,000/year.
Your top performer. Gone.
You’re gonna have some explaining to do. People — including senior leaders — are going to be pointing the finger at you. How could you let this happen? Didn’t you see this coming?
Your team is in shambles. They don’t know what to do without her. She was the glue that tied them all together.
So you have to deal with the wrath of senior leadership, the chaos that is now your team, and your inner guilt. Oh — AND you have to hire someone else. How did this happen???
The story didn’t need to go this way. It could have ended with your top performer getting that 20% raise. You COULD have seen it coming. You DO have the power to make that happen.
But it requires seeing the WHOLE board. Not just knowing what’s going on in your team but what’s going on across your ENTIRE company. If you can do that, you can get those raises your team deserves.
Oh, and you can get the raise YOU deserve too.
That’s the power of mastering leadership.
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