1. “SIX DANGEROUS MYTHS ABOUT PAY”
Reality: What matters is not pay rates but productivity (and pay is just one mngt practice that impacts commitment, teamwork, and performance – need congruence)
Reality: Low labor costs perhaps least sustainable competitive advantage (better to achieve competitive advantage through quality, customer service, innovation, or technology leadership – harder to imitate)
Reality: Individual incentive pay undermines performance (e.g., teamwork) and overemphasizes short-term focus and political behavior (and organizations paying on more collective basis outperform those who don’t)
Reality: People work as much or more for meaning (and fun!) as they do for money (orgs may spend too much time trying to attract, retain, motivate through compensation – not enough through work environment) (pay openness?)
Exceptional orgs see and pursue a better business model