The $33,000 Small Business Raise

Posted by Bonny Albo Aug 14, 2006

A recently released Gallup poll found more than three-quarters of Americans would be happier with exactly $33,000 a year more than what they currently have.

After reading this information, three questions came to mind:

• Why $33,000? Isn't that an awfully precise number?
• What about the other quarter? Are they perfectly happy with the money they are making now? Don't they want even a teensy weensy bit more?
• How do I keep my staff motivated, knowing that statistically most are unhappy with their current wage?

The answer to #1, most likely, is the fact that the data was statistically analyzed, and this was the median answer. I realize that, but it does seem like an awful lot to me.

The answer to #2? I really don't know. How do you feel about the money you earn as an entrepreneur? What about your staff? Do they ask for raises a lot, or have you lost staff to other higher-paying jobs? How do you deal with it?

What I do know however, is that most of these small business staff members (62% to be exact), although making less than desirable, feel that they are happier in the position they are in than going elsewhere (according to the same study). Which is great news for all of us entrepreneurs - motivating factors aren't always money, it seems. Thank goodness.

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