Many of you are now aware that Peyton Manning, All Pro NFL Quarterback, was released by the Indianapolis Colts (I wrote about here). Long story short – he was injured, he’s the back side of his career, he was due a boatload of money – Indianapolis made a business decision to let him go. There was this really heartfelt press conference with the owner of the Indianapolis Colts, Jim Irsay, and Peyton the day he was released where they both cried and talked about how much they loved and respected each other. But within all that – there was one Giant lie – one we hear all the time in HR.
Jim Irsay stood at the podium and said – This is not about money.
It’s always about money – and this was about money. If Irsay would have kept Peyton on 1 more day – it would have cost his organization $28M. It was about and is about money – you don’t know if he’s going to perform at the level he has over the past 14 years, and you aren’t willing to risk $28M on that decision to keep him.
I can’t tell you how many times in HR I’ve hear this statement from employees who are leaving for another company – and 99.9% of the time they are flat out lying to your face! “Tim, I’m putting in my two weeks notice” “What can we do to keep you?” “Nothing – it’s not about the money – I’m looking for that next phase in my career” “So, you won’t stay if we pay you $100K more!” “Well, wait a minute – you would pay me $100K more?!” “No! I just wanted to show you it is about money – now go – I don’t like to work with Liars!”
That’s exactly how you do it – HR Newbies! When someone tells you it’s not about money – start negotiating and find that price – you’ll get to it pretty quickly. “But Tim, it isn’t about money – I want to spend more time with my kids – I need balance.” “I’ll give you a 50% increase” “You know my kids will sure like going to private schools, much more than public schools.” Everyone has a price – just some prices are more expensive than others – but never let anyone tell you – It’s not about the money – it is.
If Peyton would have went to Irsay and said – “Look Jimmy (I assume he calls him Jimmy) I want to do right by the Colts – I’ll accept the league minimum to stay hear” “Peyton, you got yourself a deal!” would have been the entire conversation. But Peyton is smart – he knows his value – as does Jimmy – so they cut him loose. We do this all the time with our employees. Mary from IT just came in and said she got a new job paying her 20% more – and we calculate how much that will cost to raise up Mary, and everyone else in her same position. We then look at Mary, shake her hand and tell her good luck. It’s about the money.