Fair Salary or healthy workplace: Why not both?

Imran, a successful Senior Vice President at Only Money Matters Investments PLC, whose hairline had receded faster than Dhaka traffic on a lucky Friday afternoon, swore by his "golden handcuffs". The corporation he leads is notorious—not just for its sky-piercing tower but also its seemingly unbreakable profit records. His compensation package? 

The envy of his extended family. It had allowed him to complete the fourth and fifth floors of his ancestral home in Mymensingh and send his daughter to one of the United Kingdom's most prestigious business schools—without needing a single waiver or scholarship.

Yet, beyond his ever-growing bank balance, Imran himself seemed to be shrinking. One Tuesday evening, after another gruelling 14-hour stretch of spreadsheets and soul-sapping meetings, he caught sight of his reflection in the darkened glass of his office window. The man staring back resembled a well-fed monster—bloodshot eyes, sunken cheeks, and a permanent frown carved deep between his brows.

As he sat contemplating his life, his mind drifted to a recent conversation with his cousin, who worked at a modest development organisation. "My salary isn't grand, bhai," his cousin had said, "but I actually get to see my kids before they fall asleep. And my boss? He encourages us to take mental health days!" 

Although Imran had scoffed at the time—buoyed by his financial stature—he now found himself wondering if his cousin had discovered something more valuable than gold: peace.

The longstanding dilemma of choosing between a fair salary and a healthy workplace continues to plague the professional landscape. For too long, these two essentials have been treated as mutually exclusive. 

As a result, countless professionals are left with little choice but to sacrifice well-being in favour of financial security. This imbalance not only limits talent mobility but ultimately undermines both employee and employer.

While a select few multinationals and international development missions in Bangladesh have shown that it's possible to offer both, most local conglomerates still fall short—often lacking one, if not both, across various levels of their organisations.

In today's increasingly aggressive and competitive global economy, this artificial divide is becoming more damaging than ever. Yet in our local context, a generous salary remains indispensable. 

Soaring living costs in urban areas, family responsibilities, and aspirations for a better quality of life all make competitive remuneration an essential foundation. Moreover, fair pay reflects an employer's recognition of an employee's skills, commitment, and contributions, particularly in a market dominated by labour-intensive industries.

When employees feel genuinely valued, it fosters a culture of mutual respect, appreciation, and motivation. This is crucial for retaining skilled professionals who might otherwise seek opportunities elsewhere—something no forward-thinking organisation can afford.

Still, a high salary alone cannot uphold a person's dignity in a toxic workplace. Imagine a well-paid employee enduring inhumane micromanagement, a hostile leadership team, or a relentless workload that invades every waking hour—conditions far too common in traditional corporate settings. That once-a-month SMS confirming your salary may bring fleeting relief, but it hardly compensates for the emotional roller you're run over by the other 29 days.

A truly healthy workplace must embrace key elements: psychological safety (where speaking up isn't met with a "show cause" notice), respect for hierarchy and individual contribution, open communication, inclusive growth prospects, and an organisational culture that celebrates diversity and equity—not just for a select gender, but across all spectrums. Crucially, these should not come at the cost of fair compensation.

Fortunately, in recent times, a number of thoughtfully progressive local organisations are beginning to recognise the urgent need to invest in their people, not just as a feel-good HR goal, but as a core strategic priority. Their actions speak louder than corporate posters; they are actively working to build healthier work environments. The result? They're emerging as dynamic engines of sustainable growth.

For organisations still stuck in the pendulum swing between the two extremes, one core challenge must be addressed without delay: leadership mindset transformation. Executive leaders must shed generational baggage and acknowledge that the era of "either/or" is over. The future demands both. And if this dual promise cannot be delivered immediately, it must be pursued steadily and sincerely.

Nafis Ehsas Chowdhury is a columnist and business student. Nazma Sultana is an experienced People, Strategy, and Technology Director, and the Chief Human Resources Officer at Haque Group of Industries.

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard.