I don't pay good wages because I have a lot of money; I have a lot of money because I pay good wages

I don't pay good wages because I have a lot of money; I have a lot of money because I pay good wages

Robert Bosch, the founder of the multinational engineering and technology company Bosch, famously said, "I don't pay good wages because I have a lot of money; I have a lot of money because I pay good wages." This statement encapsulates Bosch's philosophy on the importance of fair compensation for employees and the role it plays in the success of a business.

Bosch understood that paying employees well was not just a moral obligation, but also a smart business decision. By compensating employees fairly, Bosch was able to attract and retain top talent, leading to increased productivity, innovation, and overall success for his company. He believed that investing in his employees would ultimately pay off in the form of higher profits and a stronger, more sustainable business.

Bosch's commitment to paying good wages was not just about the bottom line; it was also a reflection of his values and beliefs. He believed that employees were the backbone of his company and deserved to be treated with respect and dignity. By paying good wages, Bosch was able to create a positive work environment where employees felt valued and motivated to do their best work.