Be interesting to know who's idea this was and whether it was the players, Lee Blackett, Nick Eastwood or Stephen Vaughan.
Transparency and trust key to these processes. If you're open about the situation and the options with the playing squad and trust them to make the right decision, you should be ok.
Tigers clearly tried to strong-arm players in signing a pay-cut without explaining their rationale or discussing the options openly.
I think it's human nature that when you're forced into doing something, rather than being able to make the decision yourself (even if both result in the same outcome) you'll always feel more aggrieved before forced/pressured.