EVIL HR LADY
My Employees Want More Money . I Have None .
BY Suzanne Lucas
ILLUSTRATION : JOHN CHASE
My employees say they are underpaid , and the thing is , they are right . Salaries are rising , and I cannot keep up . ( I ’ m not one of those CEOs making millions — my take-home pay is less than my vice president ’ s pay .) Pre-pandemic , their salaries were at market rate , and the business was profitable . But the continued shutdowns hurt us , and now I don ’ t know what to do . Close the business ? Hope my employees stay and we regain what we lost ? Give them raises and take no salary myself ? ( I have bills too !) Help !
Give away the company .
Depending on how your company is structured , this may be easier said than done , but it ’ s a real possibility . Right now , finances are tight , but everyone understands the impact the pandemic has had on many businesses . You can expect ( and so can your employees ) that things will improve if you all work together now that the government has lifted most pandemic restrictions . So , offer your employees stock in the company . The more you give , the more powerful this incentive is .
When people talk about greedy CEOs , they forget the CEOs like you who are desperately trying to keep businesses afloat and paying people more than they themselves take home . Lots of startup founders don ’ t take salaries while trying to get things off the ground . But as you know , you have bills as well , and not taking a salary is only sustainable if you are independently wealthy .
24 comstocksmag . com | November 2021