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Picking up talent on the cheap….or not!

November 10, 2009

It has begun to happen! eCopy, Ricoh, and others have begun to lay off or “let go” people, talented people. Some of them I know personally, many I respect.

What does this mean to your organization? If you are a direct Branch, or a large Independent Dealer, or even a “Mom and Pop” you can get some real talented people to fill key roles in your organization for a bargin.

Yes you will likely pay less for them then they made at their previous job, but be careful! Don’t get greedy. Don’t take advantage of the really talented people. They are NOT in the bargain bin, they simply got caught standing when the music stopped. It could of been you, or me, but it was them. And you may be able to pay them less than they are really worth, but if you succumb to this temptation you do it at your own peril.

If you do you will pick up some key talent for your organization BUT YOU WON’T KEEP THEM. Is that what you really want??? To temporarily fill a position? I don’t think so! So be reasonable, yes you will not pay them what they were making, but think about what they are worth and NOT just what you can get them for.

Why? (Are you really asking why?) Because (please forgive the CAPS) THE PRIMARY JOB OF MANAGEMENT IS TO GET AND KEEP GOOD PEOPLE (TALENT), IF WE DO THIS, THE COMPANY WILL RUN WELL. The part of this formula that the “bargain bin” recruiting fails to consider is “KEEPING” the talent you hire. Isn’t that what we all really want? A long term addition to your team?

Do you want them to be loyal, and stay after the crisis has past? Then the ball is in your court. Be reasonable in your offer and they in turn they will be loyal to you and your company. Resist the baser instinct to cheap out on your offer, in the long run you (and your company) will be glad you did.

That’s my $0.02
Vince McHugh
vince.mchugh@yahoo.com

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