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Pay cuts...how should the affect new hires and recruits?
Recruiting & Staffing
Pay cuts...how should the affect new hires and recruits?
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Hello, We recently had to implement a 10% pay cut across the board to conserve cash and preserve our current workforce. This cut impacted everybody from, executives, to professionals, to contractor
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Forums  »  Topic Forums  »  Recruiting & Staffing  »  Pay cuts...how should the affect new hires and recruits?

Pay cuts...how should the affect new hires and recruits?

posted at 1/22/2009 4:13 AM EST
Posts: 1
First: 1/22/2009
Last: 1/22/2009
Hello,

We recently had to implement a 10% pay cut across the board to conserve cash and preserve our current workforce. This cut impacted everybody from, executives, to professionals, to contractors.

My question is, how should the cut affect new hires and future recruits? These are unchartered waters...

Two questions:
1) If we offered a salary of X to a new hire who happens to be a direct competitor...he accepts..what do we do now? I cannot justify bringing him onboard at the original rate so we are in conversations regarding reducing his offer by 10% temporarily.

2) How do we manage potential offers to new recruits? We are in a competitive technology space and our one of the first to implement pay cuts as a strategic maneuver. We already pay slightly below the mean for our industry on our base salaries, but historically have still been able to recruit top talent. Do we now say you would have made X, but will actually received 10% less than that until the 10% wage cut is lifted??

If there is anyone out there who has implemented pay cuts themselves, I would love to hear how your company handles, or would handle situations like these.

Best,
Matt
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Forums » Topic Forums » Recruiting & Staffing » Pay cuts...how should the affect new hires and recruits?

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