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If you want to retain staff, you can't reduce their pay. So, if retention is a priority, you are stuck with those salaries.

The question becomes what you pay new hires. On one hand, the prevailing salary is much lower, and the company can save money. However, people talk and new employees will eventually discover the pay disparity which will kill morale.




If you want to retain staff, you can't reduce their pay. So, if retention is a priority, you are stuck with those salaries.

Even if nowhere they could jump ship for would pay them their old salary either?




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