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?
No. The best strat is to pay as much as you can and treat them as well as you can so that your best workers stay happy and stay longer. Don’t let your most cavebrained competitors beat you on talent and leave you with the underperformers nobody else wants. If you can’t afford to invest in quality then you’re already losing.
Honestly the top 75% as an average is a good target. You want some all stars and you want some regular players. What’s really important is to have respect from top to bottom that everyone is important. An all-star is never a prima dona… the opposite in fact, because they’re paid more to lead and to improve and guide others.