I've acquired a number of employees from different companies and other companies have "taken" my employees in the past as well. It all revolves around my "billion dollar employee" theory. Some people ask me how some of my staff is so powerful and the truth is because they have worked for leading corporations in their career before they have worked with me. Of course they are getting the same benefits and some more otherwise I highly doubt they would have left their companies, but they are worth every penny, in most cases.
As a business owner or entrepreneur, depending on the amount of money you have decided to spend on payroll and related costs, you might be able to acquire employees that have tons of experience under their belt and who can truly take your business to the next level. If an employee makes me a billion dollars, why wouldn't I pay them well. If an employee makes me five million, again, why wouldn't I pay them well? I mean after all without each member of my staff, I definitely wouldn't make the money I do now.
If you are just starting out, you obviously want to get the most powerful people or most experienced on your side, but sometimes the funds are just too dry. So what can you do? Keep looking for someone that fits the pay scale. From personal experience, when I have hired people from other companies to work for me, they at least bring in some profit if not a huge amount with the project they are working on. The reason I pay these employees really, really, well is for plenty of valid reasons. First, their experience, then their connections, then their PROVEN performance, and the results they give me.
It's not good to commit to an outrageous pay, but if you really think the employee will be able to pull through with a high profit on their work then it might be worth the risk. Even then you should be careful how you play the cards because you don't want to spend all your money before you make any, otherwise you will definitely fail.
If I know I am going to get involved with a future project (3-6 months later), I have even put an employee on payroll once for doing NO WORK for a few months because I knew they were an asset to the project that I would be doing. The results were that they BEAT my expectations and now work with me on various projects. Even though I "wasted" payroll, it wasn't a waste in the long run. If I hadn't acquired that person at the time I did, they would have been employed elsewhere and I wouldn't have that particular "guru" on my team today.
There might be an ethical dilemma when you are hiring someone who works for another company. I NEVER take employees from small business owners, even if I don't know the owner because that creates bad air between a possible future encounter. Employing someone after they leave a large corporation, I believe, is okay because large companies burn through people more frequently and have a large number of performers.
.jpg)
