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I have found, time and time again, that without a long-term plan to bring people into competitive rates, they will continue to lag the market. I always encourage business partners and stakeholders to consider where that person should be over the course of X months or years, and to plan for moving them into that rate.
Another approach, though a more costly one, is to shift the perception of what an aspirational promotion is. Rather than giving high-potentials a chance - we should make an investment in them and provide competitive rates.

Without either a plan or a competitive rate, you may see your organization become a training ground for other companies to scoop up your talent.

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