By Eric Chester, founder and president of Generation Why, Inc., a training and consulting firm offering insights into managing today’s generation.
Quid pro quo (from the Latin meaning “something for something”) is a commonly used term in business negotiations. It’s also the foundation of every employer/employee relationship.
To illustrate, let’s say the quid represents the dollars an employer is willing to part with in exchange for labor they need to operate their business. The quo then represents the amount of work an individual agrees to provide in exchange for their services. In this equation, the term “in exchange for” is the pro, so quid pro quo simply translates to “money in exchange for work.” (more…)