Understandably by Bill Murphy Jr.

Understandably by Bill Murphy Jr.

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Understandably by Bill Murphy Jr.
Understandably by Bill Murphy Jr.
Is this too much?
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Is this too much?

Spoiler alert: No. I don't think it's possible to pay top employees too much. Also: 7 other things worth a click

Bill Murphy Jr.'s avatar
Bill Murphy Jr.
Jan 10, 2020
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Understandably by Bill Murphy Jr.
Understandably by Bill Murphy Jr.
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Someday, when Understandably is a giant media brand and I’m hiring people left and right, this might come back to bite me.

But, I’m going to go on the record: I don't think it's possible to pay top employees too much.

I suppose there's an economic limit. You can't rewrite the laws of math and physics.

But the cost to recruit, train and retain a stellar employee is so high—and the risks of losing him or her are so great—that it makes sense to go above market, all the time, other things being equal.

Compared to $44k?

Reason for mentioning this: Taco Bell, which announced yesterday that it will start paying some store managers $100,000 a year, up from the current $50,000 to $80,0000.

“We hope we can evaluate the effect of increased salaries on manager and team morale, restaurant performance, recruitment and retention, and customer experience,” Ferril Onyett, Taco Bell’s senior director of global training and international HR, told MarketWatch.

The announcement caused a stir. I suppose it under…

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