Meaning ● Fairer wages, in the realm of SMB growth, automation, and implementation, signify a compensation model that seeks to align employee earnings more closely with the value they contribute, considering factors beyond simple market rates. This involves strategic wage assessments, reflecting not just cost-of-living adjustments but also the enhanced productivity gained through automation initiatives within the SMB. Considering the unique resource constraints facing many SMBs, achieving this balance is a critical, yet often challenging, endeavor. ● Implementation of automation should, ideally, create cost efficiencies which permit SMBs to reinvest in their workforce via improved compensation packages. Often, automation can allow for reallocation of resources and skills, which justifies upward salary adjustments that boost retention.
