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Navigating Compensation Dynamics in Small Businesses
The chapter explores the intricacies of compensating employees in small businesses, focusing on the challenges of addressing entitlement and the importance of viewing compensation holistically. It emphasizes the need for a strategic approach to reward high performers while discouraging entitlement, highlighting the value of non-monetary benefits. The conversation underscores the significance of open communication, humility, and meritocracy in ensuring fair compensation practices and fostering a positive work culture.