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Competitive edge hiring in a down economy.

Publication: San Diego Business Journal
Publication Date: 25-AUG-03
Format: Online - approximately 714 words
Delivery: Immediate Online Access
Full Article Title: Competitive edge hiring in a down economy.(Brief Article)

Article Excerpt
With daily announcements of corporate downsizing taking place somewhere in the United States, a focus on hiring new or additional mission critical company leaders may not seem quite logical. On the contrary, there are good business reasons to aggressively pursue only the star-caliber talent your business needs to break out of the tense, unrelenting economic climate constraining many companies.

Reason 1

In tepid business times with shrinking margins there is little or no room for error in hiring new people or promoting current performers into key positions. Turnover per hire typically costs one and a half to three times annual salary. With revenue stagnating, "near miss"...

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