Regardless of the size of company, retaining your best employees is top of mind for most executives. There’s stockpiles of data and studies that show compensation is not the number one motivating factor why employees stay or jump ship. And in my experience, if you’re having the “I need more money or I’ll leave” conversation, then you’ve already lost them.
Of course we want to hire the best talent for our companies, that’s why we take the time to interview and screen the applicants! Great people are great for business. Jack Dorsey, Co-Founder of Twitter said recently at the AccelerateTO conference (paraphrase), “it doesn’t matter how good your idea is, you need great people and a great culture; that’s your competitive advantage.”