Money attracts..doesn't retain

First we need to understand what is Market Competitive pay.Is it a salary at par with all the other competitors or is it a notch higher than the others. And lets say there is a company X which pays almost like its competitors or may be higher, does it guearantee that the employees are satisfied?What is required to make any salary structure work is the feel of the pulse of the employees. One of the many ways could be periodic employee satisfaction surveys. Seeking active participation of employees in LSIPs or town-hall meetings could be another. Money can attract employees but not retain them. In today's era when employees are spending long hours in office they seek much more than salaries. A culture should be developed where an employee is free to ask anything to anybody without the slightest trace of hesitation. This is more easily said than done. The employees always have the sword of appraisal hanging over their heads and they would seldom raise voice. A muffled voice can create greater havoc than a loud voice. In a scenario where employees have become the core assets of firms, to neglect even the tiniest voice could be disastrous and that is what the efforts shuold be directed to. An employee should, apart from feeling great about his compensation, also feel at home in the company. She should see herself growing and achieving that dream which she has always cherished. They say people don't change jobs they change bosses! And, I agree to that completely.

( The author of this post is an employee of a leading financial research outsourcing company)