“Do unto others as you would have them do unto you.”
Follow this rule and you’ll be fine. The issue is, if you follow this rule, you will be going against the fundamental standards of capitalism. But how do you balance integrity within a capitalistic culture? You do your best to be fair. Your employees are likely not dumb. They know how to feel out the market and see what fair wages, benefits, and work expectations are. When you see them going above and beyond, taking leadership roles, and working harder than the rest of the team, it is your job to retain that employee as opposed to seeing them go to your competition. Sadly, so many organizations would rather pinch pennies now when, in the long run, they end up losing more than they could have saved by giving a raise.
So, leaders, look at the team you directly manage. Are you happy with the performance of each of them? If not, ask yourself, “If I were in their position, would I feel valued by this organization if I were him/her?” If the answer is no, maybe, instead of looking at their performance, you should look at your ability to go to bat for those you have working for you.
Make professional development a priority.