I haven’t personally seen that work in practice. I’ve been in situations where we considered it, but people usually have picked a role with salary consideration

I haven’t personally seen that work in practice. I’ve been in situations where we considered it, but people usually have picked a role with salary considerations in mind, and often can’t really walk that back, and if they do it’s demotivating. And they may be able to perform elsewhere in a way that meets the need at your senior comp level. I think it’s easiest to cut the relationship and let them start clean somewhere else.