James Goldsmith: Peanuts Compensation

Posted by admin on Sunday, November 25, 2012

James Goldsmith Money Quote saying You get what you pay for is a well known phrase that applies to this suggestion that a worker is worth more than snack money. James Goldsmith said:
 

 

“If you pay peanuts, you get monkeys” — James Goldsmith

 

 

In this quote, James Goldsmith is drawing a comparison between low pay and low quality or unmotivated work. His point is that if an employer offers very low wages or “peanuts” in compensation, they should not expect to attract high-caliber, dedicated employees but rather may end up with “monkeys” or workers who are unskilled, inexperienced or lack commitment.

Goldsmith implies that compensation levels directly influence the caliber of personnel an organization can recruit – low pay will result in lower quality hires. The quote suggests that businesses seeking top talent and performance should offer competitive, livable salaries that attract and retain high-performing “monkeys” rather than underpaying and settling for less capable workers as a result.

In essence, Goldsmith conveys that you get what you pay for in terms of employee quality.

Birthday: February 26, 1933 – Death: July 18, 1997