[mr_puzzled]

1. Give them flexibility eg- work timings, wfh.

2. Pay above market rates and promote when it's deserved.

3. Allow them to retain IP of their side projects. People who want to build startups will eventually leave, but you can delay it with this. Considering most people will never reach product market fit, it's a win win.

[midrus]

About (2): Not everyone is just chasing money. I know several very good engineers I'd love to work with which have left to lower paid jobs because they got tired of internal politics and a bad culture, terrible tools and horrible projects. I personally value more (1) as long as my minimum for (2) is meet.

About (3), that just makes things worse in my opinion, people end up working for their CVs, their side projects, and their future company. You would certainly retain them, but not sure if that's the kind of people that will make your company successful.

After a given minimum figure for my salary, I personally would value more WFH, having good tools, being able to make progress and not feeling stuck because of bulls??t and a nice manager and team that focuses on getting things done and shipping. No amount of free avocado would compensate it for me.

So, to OP, (as someone commented elsewhere) just LISTEN to them and ACT to help them fix what they see wrong. That's it. I'd be surprised if the only things they want to stay is more money.

[Aeolun]

I think it’s more that you can compensate for everything else by just increasing (2), so if you cannot fix your cultural issues just yet, you can keep your engineers if you pay them more.

The moment someone else pays them more for a more pleasant environment you are 100% guaranteed to lose someone.

[pc86]

I think in the context of a holistic approach to keeping great employees, above-market compensation is important, whether they are "chasing money" or not. If your market rate is 200k, should you be happy with 150k? In all but the most extreme outlier areas of the country, that's more than enough for all your bills, have a fully funded 401k and Roth IRA, and recreational/spending/fun money on top of it. You might say "oh I like where I'm at" or "the devil you know beats the devil you don't" or whatever, but most people don't think like that. And the best people in your organization will look at places with equal or better culture, who are paying 10, 15, or 20% above that 200k market rate, and leave.

Getting your just compensation isn't about "chasing money," it's about making sure you're paid what you're worth. The market largely dictates that and it's easier than ever to get a rough idea (+/- 20% is pretty easy) of where you stand based on experience, industry, location, and leverage.

> I'd be surprised if the only things they want to stay is more money.

Nobody said that.

[smoe]

I agree with you, but I think it is worth to reiterate to some people that pay does actually matter (Doesnt have to be above market in my opinion).

I'm fed up of people thinking they can compensate for not paying adequately by buying a ping pong table and a vague promise of "great growth oportunities"