4 ms·
Isn't new talent more expensive than existing talent? If you've had employees that for years have been getting inadequate COL adjustments, they're cheaper to ke
by JMTQp8lwXL 6y ago
Isn't new talent more expensive than existing talent? If you've had employees that for years have been getting inadequate COL adjustments, they're cheaper to keep than getting market-rate talent.
- PhoenixReborn 6y agoThis assumes that the market rate is constantly increasing. Given the amount of job losses that have occurred recently, there may be talent available at a cheaper price.
- user5994461 6y agoDeveloping countries are developing at a two digit percentage a year, same in the few top cities. If a company has had somebody stagnant for years (many years), they're not going to be replaced for cheaper. The crash might cancel the last couple years of inflation at most. Also, the employee is much more experienced now (could go from junior to senior over 5 years). Will the replacement be equally experienced or starting from scratch again? A fresh experienced hire is certainly more expensive than what the employee was originally earning.