Tom Bayliss, CEO of Tab Electric Supply Inc., doesn't like to lure new employees with high-salary offers.
It can be tempting to lure a prize performer to your company with higher pay, but Tom Bayliss, for one, disagrees. Bayliss, CEO of Tab Electric Supply Inc., in New Bern, N.C., says, "If someone comes to Tab for the money, they'll leave here for more money, too." So he doesn't make those offers.
Bayliss credits the hiring policy with helping create a spirit of camaraderie in the company. "When money is the prime mover for joining a company, chances are the employee could have a bad attitude."
According to Bayliss, none of Tab's 25 employees have defected since the company was founded six years ago. And, he says, industry statistics show Tab employees to be twice as productive as the norm. Word's gotten around about Tab, too. Bayliss hasn't yet had to place a help-wanted ad.