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Get Out of the Salary Race and into the Arms Race.(money not the only way to recruit employees)(Brief Article)
- Article from:
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Manage
- Article date:
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May 1, 2001
- Author:
- Waldroop, James; Butler, Timothy
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Copyright informationCOPYRIGHT 2001 National Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Gigantic salaries and signing bonuses! Glamorous spa retreats for employees! A brand new BMW if you join us and stay for over a year! (That's right, one year!) Each of these examples is a true story. Clearly, the "war for talent" is escalating to absurd levels as businesses compete to hire and hold on to the best employees.
Money and other seductive offerings are certainly one way to attract talent -- but what if your firm simply can't afford such goodies? Don't panic: You can still compete, attracting high-quality employees, as well as retaining them and helping them maximize their potential so that they and your firm benefit.
The secret? Letting job candidates know ...