INSTANT MBA: Pay Employees For Proven Excellence, Not Experience

Caterina Fake

Joi

Caterina Fake

Today’s advice comes from Caterina Fake, co-founder of Flickr and Hunch: “I just read this phrase ‘salary commensurate with experience’ in an email list I’m on, and thought perhaps it should be ‘salary
commensurate with effectiveness’ or ‘salary commensurate with
excellence’ instead.”

“A lot is gained through experience, but experience teaches some and not others. Effectiveness and excellence, whether or not they were attained by simply having the knack or through the school of hard knocks, is really what you want to reward.”

 

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