McBride for Business Blog

Is Loyalty Worth More Than Money?

November 16, 2017 // R. Shawn McBride // No Comments »

We’re living in a different age. We’ve talked in The 3 Laws of Empowerment, about how we’re living in an age of choice and each of us gets to make choices about what we do with our waking hours. An interesting phenomenon’s starting to emerge in the marketplace. Loyalty may be worth more than money. In so many cases, businesses are starting to find that policies and procedures and business systems that are employee-centric, that create wonderful working environments that allow employees to express themselves and do work they enjoy, is more than the dollar amount paid to the employees.

Sure, employees still need to have livelihoods. They have mouths to feed. They have economic needs, but we’re starting to live in a different time. A financial output is not necessarily important as the quality of living. It was interesting, once I was at a sales conference and somebody asked would you work more hours for more money? In a very large room full of people, and guess what? Very few people raised their hands. People see the inherent trade-offs.

I had a conversation with somebody who does a lot of consulting with women and a very interesting phenomenon came up. She thought that women would be very interested in negotiating for higher salaries, but she found from many women that higher income was not as important as other factors. Indeed, when I spoke about my Ted Talk at Ted X Topeka Women about The Advantages of Women in Business Partnerships, I looked at research which indicated in many cases women would favor a cooperative environment over greater pay.

The world is changing. Loyalty is key. We want to build businesses and systems that recognize people that help people be who they want to be. That allows them to be empowered and fulfilled. Sure, we want to make sure our employees earn fair pay, but for many employers, creating an environment that employees love, a culture of understanding and fulfillment, can be more important than a total dollar amount paid. Think about that. Maybe that’s your competitive advantage.

What have you done with your employees? Have you compared loyalty to pay? Have you ever found that some employees that are highest paid are the least happy? What’s been your experience? Join us in the comments below.

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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Satendra Mhatre.

About the Author

R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.

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Posted In: Business, Management, Speaking

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