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How much to pay your best employee

When you’ve found someone who’s truly outstanding, the normal pay rules shouldn’t apply.

Forget pay scales; forget industry benchmarks; forget, “I can’t afford to pay any employee that much.” When an employee is remarkable – forget all that.

Why? Here’s a cool story from David Halberstam’s The Breaks of the Game.

In 1974, Lynn Swann was drafted by the Pittsburgh Steelers. Swann was selected seventh, but his agent, Howard Slusher, managed to negotiate the second-highest starting salary among rookies that year. (In short, Slusher got Swann No. 2 money even though he was the seventh pick, a fairly rare feat that was great for Swann and great for Slusher’s image as a capable negotiator who could deliver for his clients.)

At the press conference to announce the signing, Slusher was pulled aside by Art Rooney, then the owner of the Steelers.

“You think you screwed us, don’t you?” Rooney asked Slusher.

…to read this article in full, visit leading US small business resource, Inc.

Inc.

Inc.

Inc.com is a place where entrepreneurs and business owners can find useful information, advice, insights, resources and inspiration for running and growing their businesses.

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