Are you being compensated for the hours of input you put into an endeavor or into your work? Or if you’re an employer or a client, do you pay your company‘s staff according to time spent at the office or in the field? If you think this is the best way to keep your business profitable (minimizing the human resource costs), productivity experts would tell you otherwise.
Smart entrepreneurs look for smart ideas, and are willing to compensate people for those ideas. It is better to pay—and be paid—according to the value of one’s output rather than inputs. For the employee, this gives an incentive to innovate and think of great ideas. For employers, this helps avoid mediocrity among one’s staff.
So one good advice to business owners and company startups—if you would like to see sales or output grow drastically, do compensate your employees for what they’re worth—meaning, for the value they create in the company. Pretty soon, you will see great ideas coming from them that would help profits skyrocket.