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Tough Choices

If you want to hire fresh talent, you'll have to pay them more. But what will your existing staff say?

This story appears in the May 2003 issue of Entrepreneur. Subscribe »

You want someone with top-notch talent who can take the company forward in tough times. You've settled on an outsider with a proven track record. Even better, this person wants the job. You're both ready to negotiate a salary and benefits.

But there's a problem: You haven't been able to give current employees raises since the economy began to falter. To attract the best, however, you may think you have to offer a salary that's slightly higher than what other comparable employees earn.

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