One of the more interesting aspects of pay-related dissatisfaction is that employees typically are not dissatisfied with their pay until they sense some inequity, such as the case in which employees do similar work but receive different amounts of pay.
If you are losing droves of employees because of pay, then it is probably time to look at the pay ranges and the costs associated with this type of turnover. However, if pay issues have not been a significant source of turnover, then you can focus on what to say to this individual.
It can be helpful for this employee to know about the full range of advantages associated with working for your company, such as your benefit program, growth and stability of the company, opportunities for advancement, training programs, or even the working conditions. Although monetary increases at some level can trump these kinds of factors, slight increases in pay on a new job can end up being more costly for the employee.
In some cases, employers that do not offer great stability, benefits, or opportunities pay more money in order to compensate for such shortcomings. Give your employee a complete picture of what your company offers, and then it is up to him to determine if it really pays to work elsewhere.
| 
