Summary
Determine your required salary range supported all three factors: the overall budget set by the company; the market price of the position; and therefore the skills of the applicant. This may assist you cover all bases and manage company growth needs moving forward.
Watch your spending closely. If you discover you’re over budget on a salaried role, it’s time to reevaluate your expectations. Remember: in-demand skills are worth extra money. If your applicant has skills that are unique or rare, then they might hold significant value to your business beyond their initial role.
Lastly, remember that when a suggestion has been made you can't easily rescind your salary offer. So avoid offering a salary until you've got a transparent indication of the employee’s potential value to your business. If they’re someone who excites you, make them an exciting offer in response.
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