This is the Ramsey Call of the Day, part of the Ramsey Network.

Joining me today is Ramsey personality, Ken Coleman.

Rebecca is with us.

Rebecca is in Indianapolis.

Hi, Rebecca.

Welcome to the Ramsey Show. Hi, thanks for taking

my call. Sure. What's up? So I'm the CFO of a small business, and I would like to know how Ramsey or

other businesses that you know are determining what fair pay is now considering the recent inflation.

Most businesses can afford to just do a sweeping 8% payroll increase across the board.

And even if they can, it doesn't mean that that increase is appropriate for all the roles,

but employees and managers don't really want to hear that.

So I'm just curious what other people are doing.

Well, to start with, I would reset the table on the people that work for you.

Okay.

Uh, people at Ramsey hear me say regularly, uh, your raise is effective when you are.

You know, we have never given an inflation raise in the history of this company, nor will we.

Okay.

Well, you are paid for two, based on two things inside of our company you are paid what the position pays in the marketplace and that's fair and that's right and truthfully anybody that's got a job out there

you're paid what you can be replaced for with rare exceptions no one pays you twice what you can be replaced for with rare exceptions.

No one pays you twice what you can be replaced for.

They pay you what you can be replaced for.

That's cold hard facts.

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