There are many examples of companies that have treated employees poorly and attempted to pay them as little as possible. However, there are other CEO’s that have taken a different approach to employee compensation stating that it is a vital part of the long term profitability of a company. Brian Bonar is an example of a CEO that has decided that it is better for a company over the long term to compensate employees fairly and treat them good while they are at work. At the end of the day, Brian Bonar is a successful business owner and leader that has managed a wide variety of successful businesses.
In many companies one of the first areas that many companies cut in time of economic weakness is salaries and benefits. Although it will reduce expenses in the short term, over the long term it can actually cost a company more money by operating this way. There are many studies that show companies that compensate their employees better in relation to the market actually have lower overall costs relating to employees due to lower turnover. At the end of the day, a business must decide what is best for it in the long run. However, many CEO’s and other business leaders agree with Brian Bonar that higher employee compensation saves more money in the long run.
Brian Bonar is an American entrepreneur and business owner that has a huge array of experiences managing various different companies. There are few industries in the economy that Brian Bonar has not worked in. Throughout his career, he has always attempted to run his companies differently than others in the industry that he is currently in. Although he does not have the same tactics as other leaders in business, his results over time speak for themselves.
In The Future
Many thought leaders in business believe that in the future employee treatment and compensation is something that other companies will start taking notice of. In the information economy that we find ourselves in, a good employee can make a huge difference in the profitability of the company. There are many great employees that find themselves looking for jobs simply because they can get so much better compensation when they look for other jobs. In the long run, it is much less expensive for a company to pay its employees better and have lower turnover. Turnover is expensive in both hiring employees and the productivity that is lost while they are gone. Only time will tell what happens in the business industry, but Brian Bonar has made it clear where he stands on the treatment of his employees.