What does it mean to ”fairly” compensate someone?

<p>This was a super interesting conversation. We didn't come up with a great answer and I am left with more questions.</p> <p> </p> <p>How do you decide how much an employee's labor is worth? How do they know if they are being paid fairly? Why is compensation such a hush-hush thing?</p> <p> </p> <p>If an employee feels like they are being paid enough, is it okay for an employer to pay them less than market value? (This happened a lot to me when I was young.)</p> <p> </p> <p>Simon Coles reminded us during the conversation that compensation isn't just about the paycheck. There is also: vacation, sick time, health care (in the US), retirement accounts and the company culture (which might be a pro or a con).</p> <p> </p> <p>Each of my panelists brings a different perspective. Keji Moses owns a non-profit. Frank Galindo is in PR. Atif Agha manages people in the tech space and Simon is an entrepreneur.</p> <p> </p> <p>Listen in and then let me know what you think - what does it mean to fairly compensate someone?</p> <p>Connect with the panelists: Keji Moses CMgr FCMI: <a href='https://www.linkedin.com/in/keji-moses-mcmi-61aaa6180/'>https://www.linkedin.com/in/keji-moses-mcmi-61aaa6180/</a></p> <p>Atif Agha: <a href='https://www.linkedin.com/in/atifagha/'>https://www.linkedin.com/in/atifagha/</a></p> <p>Francisco "Frank" Galindo: <a href='https://www.linkedin.com/in/frankgalindo-mba/'>https://www.linkedin.com/in/frankgalindo-mba/</a></p> <p>Simon Coles: <a href='https://www.linkedin.com/in/sjcoles/'>https://www.linkedin.com/in/sjcoles/</a></p> <p>Dr Robyn Odegaard: <a href='https://www.linkedin.com/in/robynodegaard/'>https://www.linkedin.com/in/robynodegaard/</a></p> <p>Want a summary of the Quick Hits I post every week, plus the links to the LinkedIn pages of each of the panelist to show up in your in-box every week? Just let me know where to send it: https://drrobynodegaard.com/quick-hits-notifications/</p> <p> </p> <p>#QuickHits are designed to exercise your brain by letting you listen in on an unscripted conversatio