I always say that the reason I’ve never hired an employee is because I was an employee once too. I say that the problem with the employee-employer relationship is that no employee thinks they get paid too much and no employer thinks they pay their employees too little.
The worst time of the year for me was the annual review because I always ended up being unhappy with my raise. The problem really was only at one job I had because when it came time to getting promoted, I never got the salary that I thought should come with that promotion. So every year, I felt I needed to chase that salary with a raise. One year, my employer said that if I wasn’t happy, I should leave and find another job. I packed up my stuff and was ready to walk off, but a fellow employee knocked some sense into me that I was married and had an infant son. A year and a half later, I was gone.
When you have great employees, one of the worst mistakes you can make is making them feel unappreciated. Another big mistake is making it clear to them that can go elsewhere. Maybe they didn’t think about going somewhere else, but telling they can may provide the spark that gets them to leave. If you truly value your employees, don’t give them the idea that the grass maybe greener on the other side.