Whether or Not to Pay Bill<\/h2>\n

Maybe you\u2019ve been in this situation. It\u2019s Monday morning in early January and Bill asks for some time to talk. You\u2019re not fond of the \u2018pop-in\u2019 first thing on Monday, but Bill has always been respectful of your time. Suspecting there is something weighing on his mind, you ask him to sit down and you begin the conversation.<\/p>\n

Treading the Salary Negotiation Waters<\/h3>\n

Bill shares that he has been approached by multiple companies on several occasions about coming to work for them. Until recently, the offers have included a little <\/em>more salary than he currently makes – but not enough to cause him to take on the disruption of moving to another employer. He feels like things are going well in his current role.<\/p>\n

That all changed with a call he got over the holidays. Your competitor offered him a 25% increase to join their company. Bill considers the jobs to be equal and would prefer to stay with you. But the increase would be significant enough to allow him to make changes in his personal life\u2026 to the point where he feels he has a responsibility<\/em> to his family to make the move.<\/p>\n

Then Bill begins to tread into the treacherous waters of the counteroffer. He indicates that he would be willing to stay – if you would be willing to raise his pay. He isn\u2019t demanding or obnoxious. He actually does a pretty good job with the delicate topic. He\u2019s candid and respectful.<\/p>\n

Hit the Pause Button<\/h3>\n

This is where many managers make their first mistake\u2026 by putting a stake in the ground. \u201cNo way\u201d, \u201cOK\u201d, \u201cI really don\u2019t think we can do that, but I\u2019ll check\u201d, \u201cHere\u2019s a box for your things\u201d\u2026 all bad answers at this point in the dialog.<\/p>\n

The best thing to do is to clarify the timeline \u2013 find out when<\/em> this needs to be resolved.<\/strong> Then indicate that you would like to give the conversation some thought and get back together. Even if you only have a couple hours, a little time to prepare your thoughts will help immensely.<\/p>\n

There is one<\/em> more thing. This is a deal breaker<\/strong>. Bill needs to commit to you that he will not<\/em> have conversations with ANYONE about his potential change. Once the word gets out, your options will be limited.<\/p>\n

Okay\u2026 Now What?!<\/h3>\n

The issue is out there and you need a decision\u2026 fast. This is not a situation where time is your friend. Resolve this quickly.<\/p>\n

Here\u2019s a basic framework you can use as a guide:<\/h4>\n

\n
1. Do more homework<\/strong>. Take a hard, honest look at Bill\u2019s pay. Does he have a legitimate point? What would be the cost to replace him? Can you trust him to keep the situation quiet? Most important \u2013 is money going to address the issue? Or, are there issues with his employment that run deeper?<\/li>\n
2. Talk it out<\/strong>. Have another conversation with Bill before you make a decision. Take the time to prepare your questions. Find out what other concerns he has. Talk with him about whether his job still excites him. Talk about his career aspirations.<\/li>\n
3. Make the decision<\/strong>. It may be best to let Bill go. It depends on where you land with some of the issues mentioned above. It may be best to try to keep him by increasing his pay, even if not the entire 25%. Consider the following alternatives:<\/li>\n<\/ol>\n
   \n
   • A multi-step plan for increasing his salary.<\/li>\n
   • Increasing his salary – but also revising his role. Increasing his salary with no job change sends a message that you have been undervaluing<\/em> his contribution all along. Increasing his salary in conjunction with additional responsibility sends a message that you can make more in return for more contribution. It doesn\u2019t have to be a lot more responsibility. Just something that changes with his role to which the additional pay can be attributed.<\/li>\n
   • A bonus opportunity.<\/li>\n
   • A retention bonus.<\/li>\n<\/ul>\n

     The Final Decision<\/h3>\n

     If you\u2019ve agreed to change his pay, the decision is up to Bill. It didn\u2019t really sound like he wanted to make a change. Maybe your offering has given him enough reason to feel like he doesn\u2019t have to make the move. Maybe your offering has given him the points he needs to \u2018justify\u2019 to others who are affected by his decision why he is turning down the higher salary. Or maybe Bill leaves.<\/p>\n

     Regardless of how it turns out with Bill, you should appreciate that he was willing to have an honest conversation with you about the issue. You both maintained your dignity while being true to your personal and company obligations. Well done<\/em>.<\/p>\n

      <\/p>\n

     Image courtesy of idea go at FreeDigitalPhotos.net<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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