Is it good employer strategy to pay my employees just enough so that they can’t save money, so that they can never walk away from the job?
Like, there is a threshold where if they are able to save X per month, they will eventually use that against you and quit at an inopportune time?
And if that threshold falls below state mandated minimum wage, what steps can be taken to mitigate this?
I’ll bite.
Don’t make it related to pay. Make them WANT to work there, and then put a bunch of employment requirements into the contract that sound reasonable but can’t all be done AND accomplish the job.
At that point, all your employees are in breach of contract and you can just investigate and fire anyone who doesn’t seem to be providing value.
You’ll get a few people who position themselves as unfireable anyway, and some people who it will be difficult to prove they broke the contract. And if you fire people too often, you’ll again have retention issues.
Maybe the value of your business isn’t as much as you think it is, or you’re not charging enough for what you sell….