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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?

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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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